Patterson-UTI Energy Inc (NASDAQ:PTEN) has a beta value of 2.24 and has seen 3.78 million shares traded in the last trading session. The company, currently valued at $4.91B, closed the last trade at $12.02 per share which meant it lost -$0.1 on the day or -0.83% during that session. The PTEN stock price is -34.53% off its 52-week high price of $16.17 and 19.3% above the 52-week low of $9.70. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.48 million shares traded. The 3-month trading volume is 6.81 million shares.
Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Sporting -0.83% in the red in last session, the stock has traded in the green over the last five days, when the PTEN stock price touched $12.02 or saw a rise of 4.98%. Year-to-date, Patterson-UTI Energy Inc shares have moved 11.30%, while the 5-day performance has seen it change 0.84%. Over the past 30 days, the shares of Patterson-UTI Energy Inc (NASDAQ:PTEN) have changed 0.08%. Short interest in the company has seen 25.58 million shares shorted with days to cover at 3.47.
Patterson-UTI Energy Inc (PTEN) estimates and forecasts
Figures show that Patterson-UTI Energy Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -2.44% over the past 6 months, with this year growth rate of -43.97%, compared to -4.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -71.70% and -62.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 49.10%.
15 analysts offering their estimates for the company have set an average revenue estimate of $1.52 billion for the current quarter. 15 have an estimated revenue figure of $1.53 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $791.8 million and $758.88 million respectively for this quarter and the next, and analysts expect sales will grow by 91.40% for the current quarter and 101.60% for the next.
Earnings growth for 2024 is a modest -48.20% while over the next 5 years, the company’s earnings are expected to increase by 44.60%.
PTEN Dividends
Patterson-UTI Energy Inc is expected to release its next earnings report between April 25 and April 29 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.32 at a share yield of 2.66%. The company’s dividend yield has gone up over the past 12 months.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
Insiders own 1.94% of the company shares, while shares held by institutions stand at 97.15% with a share float percentage of 99.07%. Investors are also buoyed by the number of investors in a company, with Patterson-UTI Energy Inc having a total of 451 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 57.12 million shares worth more than $683.74 million. As of Jun 29, 2023, Blackrock Inc. held 27.46% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 40.65 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $486.61 million and represent 19.54% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Delaware Group Equity Fds V-Small Cap Core Fund. As of Sep 29, 2023, the former fund manager holds about 10.41% shares in the company for having 21.65 million shares of worth $299.62 million while later fund manager owns 12.1 million shares of worth $117.82 million as of May 30, 2023, which makes it owner of about 5.82% of company’s outstanding stock.
