In the last trading session, 9.28 million Patterson-UTI Energy Inc (NASDAQ:PTEN) shares changed hands as the company’s beta touched 2.14. With the company’s per share price at $7.90 changed hands at -$0.08 or -1.00% during last session, the market valuation stood at $3.11B. PTEN’s last price was a discount, traded about -80.51% off its 52-week high of $14.26. The share price had its 52-week low at $7.45, which suggests the last value was 5.7% up since then. When we look at Patterson-UTI Energy Inc’s average trading volume, we note the 10-day average is 8.84 million shares, with the 3-month average coming to 7.39 million.
Analysts gave the Patterson-UTI Energy Inc (PTEN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.76. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 1 recommended PTEN as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Patterson-UTI Energy Inc’s EPS for the current quarter is expected to be 0.03.
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Patterson-UTI Energy Inc (NASDAQ:PTEN) trade information
Instantly PTEN was in red as seen at the end of in last trading. With action -4.24%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -26.85%, with the 5-day performance at -4.24% in the red. However, in the 30-day time frame, Patterson-UTI Energy Inc (NASDAQ:PTEN) is -5.62% down. Looking at the short shares, we see there were 29.77 million shares sold at short interest cover period of 4.35 days.
The consensus price target for the stock as assigned by Wall Street analysts is 18, meaning bulls need an upside of 56.11% from its current market value. According to analyst projections, PTEN’s forecast low is 10.5 with 23 as the target high. To hit the forecast high, the stock’s price needs a -191.14% plunge from its current level, while the stock would need to soar -32.91% for it to hit the projected low.
Patterson-UTI Energy Inc (PTEN) estimates and forecasts
Data shows that the Patterson-UTI Energy Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -30.34% over the past 6 months, a -84.48% in annual growth rate that is considerably lower than the industry average of -30.80%. Year-over-year growth is forecast to reach 32.10% up from the last financial year.
Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of 1.33B. 14 analysts are of the opinion that Patterson-UTI Energy Inc’s revenue for the current quarter will be 1.3B. The company’s revenue for the corresponding quarters a year ago was 1.01B and 1.58B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 31.20%. The estimates for the next quarter sales put growth at -18.10%.
The 2024 estimates are for Patterson-UTI Energy Inc earnings to decrease by -85.51%, but the outlook for the next 5-year period is at 44.60% per year.
PTEN Dividends
Patterson-UTI Energy Inc is expected to release its next quarterly earnings report in November. The 4.05% annual yield figure for the share gives it an annual dividend of 0.32. It is important to note, however, that the 4.05% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.12 per year.
Patterson-UTI Energy Inc (NASDAQ:PTEN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.52% of Patterson-UTI Energy Inc shares while 101.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.51%. There are 101.88% institutions holding the Patterson-UTI Energy Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 14.073% of the shares, roughly 57.44 million PTEN shares worth $595.11 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 11.0617% or 45.15 million shares worth $467.77 million as of 2024-06-30.
