Patterson-UTI Energy Inc (NASDAQ:PTEN) has a beta value of 2.20 and has seen 8.02 million shares traded in the last trading session. The company, currently valued at $4.11B, closed the last trade at $10.22 per share which meant it lost -$0.16 on the day or -1.54% during that session. The PTEN stock price is -58.22% off its 52-week high price of $16.17 and 6.95% above the 52-week low of $9.51. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.56 million shares traded. The 3-month trading volume is 7.12 million shares.
The consensus among analysts is that Patterson-UTI Energy Inc (PTEN) is Buy stock at the moment, with a recommendation rating of 1.58. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 0 out of 10 have rated it as a Hold, with 8 advising it as a Buy. 0 have rated the stock as Underweight.
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Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Sporting -1.54% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the PTEN stock price touched $10.22 or saw a rise of 9.32%. Year-to-date, Patterson-UTI Energy Inc shares have moved -5.37%, while the 5-day performance has seen it change -2.57%. Over the past 30 days, the shares of Patterson-UTI Energy Inc (NASDAQ:PTEN) have changed 2.10%. Short interest in the company has seen 30.62 million shares shorted with days to cover at 3.63.
Wall Street analysts have a consensus price target for the stock at $20, which means that the shares’ value could jump 48.9% from current levels. The projected low price target is $12 while the price target rests at a high of $23. In that case, then, we find that the current price level is -125.05% off the targeted high while a plunge would see the stock gain -17.42% from current levels.
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 gained 1.09% over the past 6 months, with this year growth rate of -57.76%, compared to -26.20% for the industry.
Earnings growth for 2024 is a modest -64.25% 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 in August 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 3.13%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 2.03%.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
The top two institutional holders are BLACKROCK INC. with over 55.0 million shares worth more than $656.66 million. As of 2024-03-31, BLACKROCK INC. held 19.6767% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 46.6 million shares as of 2024-03-31. The firm’s total holdings are worth over $556.35 million and represent 16.671% of shares outstanding.
