Patterson-UTI Energy Inc (NASDAQ:PTEN)’s traded shares stood at 4.99 million during the last session, with the company’s beta value hitting 2.23. At the close of trading, the stock’s price was $12.05, to imply an increase of 3.08% or $0.36 in intraday trading. The PTEN share’s 52-week high remains $16.17, putting it -34.19% down since that peak but still an impressive 19.5% since price per share fell to its 52-week low of $9.70. The company has a valuation of $4.92B, with an average of 6.37 million shares in intraday trading volume over the past 10 days and average of 6.59 million shares over the past 3 months.
Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
After registering a 3.08% upside in the last session, Patterson-UTI Energy Inc (PTEN) has traded red over the past five days. The stock hit a weekly high of 12.12, jumping 3.08% in its intraday price action. The 5-day price performance for the stock is 2.73%, and 3.61% over 30 days. With these gigs, the year-to-date price performance is 11.57%. Short interest in Patterson-UTI Energy Inc (NASDAQ:PTEN) saw shorts transact 22.15 million shares and set a 2.92 days time to cover.
Patterson-UTI Energy Inc (PTEN) estimates and forecasts
Looking at statistics comparing Patterson-UTI Energy Inc share performance against respective industry, we note that the company has underperformed competitors. Patterson-UTI Energy Inc (PTEN) shares are -15.97% down over the last 6 months, with its year-to-date growth rate lower than industry average at -42.24% against -4.70%. Revenue is forecast to shrink -71.70% this quarter before falling -62.50% for the next one. The rating firms project that company’s revenue will grow 49.40% compared to the previous financial year.
Revenue forecast for the current quarter as set by 15 analysts is $1.52 billion. Meanwhile, for the quarter ending Jun 2024, a total of 15 analyst(s) estimate revenue growth to $1.53 billion.Earnings reports from the last fiscal year show that sales brought in $791.8 million and $758.88 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 91.40% before jumping 102.10% in the following quarter.
PTEN Dividends
Patterson-UTI Energy Inc has its next earnings report out between April 25 and April 29. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Patterson-UTI Energy Inc has a forward dividend ratio of 0.32, with the share yield ticking at 2.66% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
Patterson-UTI Energy Inc insiders hold 1.94% of total outstanding shares, with institutional holders owning 97.23% of the shares at 99.15% float percentage. In total, 97.23% institutions holds shares in the company, led by Blackrock Inc.. As of Jun 29, 2023, the company held over 57.12 million shares (or 27.46% of shares), all amounting to roughly $683.74 million.
The next major institution holding the largest number of shares is Vanguard Group Inc with 40.65 million shares, or about 19.54% of shares outstanding. As of the market price on Jun 29, 2023, these shares were worth $486.61 million.
We also have iShares Core S&P Smallcap ETF and Delaware Group Equity Fds V-Small Cap Core Fund as the top two Mutual Funds with the largest holdings of the Patterson-UTI Energy Inc (PTEN) shares. Going by data provided on Sep 29, 2023, iShares Core S&P Smallcap ETF holds roughly 21.65 million shares. This is just over 10.41% of the total shares, with a market valuation of $299.62 million. Data from the same date shows that the other fund manager holds a little less at 12.1 million, or 5.82% of the shares, all valued at about 117.82 million.
