In last trading session, Patterson-UTI Energy Inc (NASDAQ:PTEN) saw 3.08 million shares changing hands with its beta currently measuring 2.22. Company’s recent per share price level of $11.69 trading at -$0.15 or -1.27% at ring of the bell on the day assigns it a market valuation of $4.77B. That closing price of PTEN’s stock is at a discount of -38.32% from its 52-week high price of $16.17 and is indicating a premium of 17.02% from its 52-week low price of $9.70. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.07 million shares which gives us an average trading volume of 6.69 million if we extend that period to 3-months.
Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Upright in the red during last session for losing -1.27%, in the last five days PTEN remained trading in the green while hitting it’s week-highest on Tuesday, 03/19/24 when the stock touched $11.69 price level, adding 2.5% to its value on the day. Patterson-UTI Energy Inc’s shares saw a change of 8.24% in year-to-date performance and have moved 1.30% in past 5-day. Patterson-UTI Energy Inc (NASDAQ:PTEN) showed a performance of -1.27% in past 30-days. Number of shares sold short was 22.15 million shares which calculate 2.92 days to cover the short interests.
Patterson-UTI Energy Inc (PTEN) estimates and forecasts
Statistics highlight that Patterson-UTI Energy Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -18.93% of value to its shares in past 6 months, showing an annual growth rate of -42.24% while that of industry is -6.50. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -71.70% in the current quarter and calculating -62.50% decrease in the next quarter. This year revenue growth is estimated to rise 49.40% from the last financial year’s standing.
15 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.52 billion for the same. And 15 analysts are in estimates of company making revenue of $1.53 billion in the next quarter that will end on Jun 2024. Company posted $791.8 million and $758.88 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 91.40% while estimating it to be 102.10% for the next quarter.
In 2024, company’s earnings growth rate is likely to be around -46.43% while estimates for its earnings growth in next 5 years are of 44.60%.
PTEN Dividends
Patterson-UTI Energy Inc is more likely to be releasing its next quarterly report between April 25 and April 29 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
Insiders are in possession of 1.94% of company’s total shares while institution are holding 97.23 percent of that, with stock having share float percentage of 99.15%. Investors also watch the number of corporate investors in a company very closely, which is 97.23% institutions for Patterson-UTI Energy Inc that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at PTEN for having 57.12 million shares of worth $683.74 million. And as of Jun 29, 2023, it was holding 27.46% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 40.65 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 19.54% of outstanding shares, having a total worth of $486.61 million.
On the other hand, iShares Core S&P Smallcap ETF and Delaware Group Equity Fds V-Small Cap Core Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 21.65 million shares of worth $299.62 million or 10.41% of the total outstanding shares. The later fund manager was in possession of 12.1 million shares on May 30, 2023, making its stake of worth around $117.82 million in the company or a holder of 5.82% of company’s stock.
