In today’s recent session, 1.1 million shares of the Patterson-UTI Energy Inc (NASDAQ:PTEN) have been traded, and its beta is 2.13. Most recently the company’s share price was $8.07, and it changed around -$0.12 or -1.47% from the last close, which brings the market valuation of the company to $3.17B. PTEN at last check was trading at a discount to its 52-week high of $14.26, offering almost -76.7% off that amount. The share price’s 52-week low was $7.45, which indicates that the recent value has risen by an impressive 7.68% since then. We note from Patterson-UTI Energy Inc’s average daily trading volume that its 10-day average is 8.0 million shares, with the 3-month average coming to 7.22 million.
Patterson-UTI Energy Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.76. If we narrow it down even further, the data shows that 1 out of 28 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 8 recommended PTEN as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Patterson-UTI Energy Inc is expected to report earnings per share of 0.04 for the current quarter.
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Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Instantly PTEN has been showing red trend so far today with a performance of -1.47% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.67 on recent trading dayincreased the stock’s daily price by 6.92%. The company’s shares are currently down -25.28% year-to-date, but still up 0.75% over the last five days. On the other hand, Patterson-UTI Energy Inc (NASDAQ:PTEN) is 2.67% up in the 30-day period. We can see from the shorts that 26.37 million shares have been sold at a short interest cover period of 4.5 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to increase their stock price by 59.65% from its current value. Analyst projections state that PTEN is forecast to be at a low of $12 and a high of $23.
Patterson-UTI Energy Inc (PTEN) estimates and forecasts
Patterson-UTI Energy Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -33.36 percent over the past six months and at a -75.86% annual growth rate that is well below the industry average of -30.10%. The year-over-year growth rate is expected to be 35.00%, up from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of 1.36B in revenue for the current quarter. 13 analysts expect Patterson-UTI Energy Inc to make 1.34B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.01B and 1.58B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 34.00%. Forecasts for the next quarter put sales growth at -15.10%.
Patterson-UTI Energy Inc earnings are expected to increase by -82.42% in 2024, but the outlook is positive 44.60% per year for the next five years.
PTEN Dividends
Patterson-UTI Energy Inc’s next quarterly earnings report is expected to be released on 2024-Nov-06. The annual dividend yield of the stock is 3.97 percent and its annual dividend per share was 0.32. It is important to note, however, that the 3.97% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.12 per year.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.52% of Patterson-UTI Energy Inc shares, and 102.30% of them are in the hands of institutional investors. The stock currently has a share float of 104.94%. Patterson-UTI Energy Inc stock is held by 465.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 14.073% of the shares, which is about 57.44 million shares worth $595.11 million.
VANGUARD GROUP INC, with 11.0617% or 45.15 million shares worth $467.77 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
