In last trading session, Patterson-UTI Energy Inc (NASDAQ:PTEN) saw 13.75 million shares changing hands with its beta currently measuring 2.14. Company’s recent per share price level of $7.98 trading at $0.01 or 0.13% at ring of the bell on the day assigns it a market valuation of $3.14B. That closing price of PTEN’s stock is at a discount of -78.7% from its 52-week high price of $14.26 and is indicating a premium of 6.64% from its 52-week low price of $7.45. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 8.31 million shares which gives us an average trading volume of 7.29 million if we extend that period to 3-months.
For Patterson-UTI Energy Inc (PTEN), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.76. Splitting up the data highlights that, out of 10 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 7 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.03 in the current quarter.
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Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Upright in the green during last session for gaining 0.13%, in the last five days PTEN remained trading in the red while hitting it’s week-highest on Monday, 10/14/24 when the stock touched $7.98 price level, adding 3.39% to its value on the day. Patterson-UTI Energy Inc’s shares saw a change of -26.11% in year-to-date performance and have moved -3.74% in past 5-day. Patterson-UTI Energy Inc (NASDAQ:PTEN) showed a performance of -6.12% in past 30-days. Number of shares sold short was 29.77 million shares which calculate 4.35 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 18 to the stock, which implies a rise of 55.67% to its current value. Analysts have been projecting 10.5 as a low price target for the stock while placing it at a high target of 23. It follows that stock’s current price would drop -31.58% in reaching the projected high whereas dropping to the targeted low would mean a loss of -31.58% for stock’s current value.
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 -30.67% of value to its shares in past 6 months, showing an annual growth rate of -84.48% while that of industry is -30.50. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 33.00% from the last financial year’s standing.
14 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 1.33B for the same. And 14 analysts are in estimates of company making revenue of 1.3B in the next quarter. Company posted 1.01B and 1.58B of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around -85.51% 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 on 2024-Oct-24 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. With an annual yield of 4.01%, the share has a forward dividend of 0.32 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 2.12%.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
Insiders are in possession of 2.52% of company’s total shares while institution are holding 102.17 percent of that, with stock having share float percentage of 104.81%. Investors also watch the number of corporate investors in a company very closely, which is 102.17% 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 57.44 million shares of worth $595.11 million. And as of 2024-06-30, it was holding 14.073 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 45.15 million shares on 2024-06-30. The number of shares represents firm’s hold over 11.0617 of outstanding shares, having a total worth of $467.77 million.
On the other hand, iShares Core S&P Smallcap ETF and Pacer Small Cap U.S. Cash Cows 100 ETF are the top two Mutual Funds which own company’s shares. As of Sep 30, 2024 , the former fund manager was holding 22.79 shares of worth $181.86 million or 5.80% of the total outstanding shares. The later fund manager was in possession of 14.57 shares on Jul 31, 2024 , making its stake of worth around $116.29 million in the company or a holder of 3.71% of company’s stock.
