The price of Patterson-UTI Energy Inc (NASDAQ:PTEN) shares last traded on Wall Street fell -0.82% to $12.11.
Based on available information, 18 analysts follow Patterson-UTI Energy Inc (NASDAQ:PTEN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $16.00, we find $18.00. Given the previous closing price of $12.21, this indicates a potential upside of 47.42 percent. PTEN stock price is now -12.54% away from the 50-day moving average and -8.34% away from the 200-day moving average. The market capitalization of the company currently stands at $5.03B.
Among analysts, 5 rate the stock a hold while 11 rate it a buy. Brokers who have rated the stock have averaged $18.00 as their price target over the next twelve months.
With the price target reduced from $20 to $17, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Patterson-UTI Energy Inc (NASDAQ: PTEN).
In other news, Smith Charles Andrew, EVP & Chief Financial Officer sold 10,000 shares of the company’s stock on Sep 27. The stock was sold for $151,000 at an average price of $15.10. Upon completion of the transaction, the EVP & Chief Financial Officer now directly owns 504,413 shares in the company, valued at $6.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 19, EVP & Chief Financial Officer Smith Charles Andrew sold 10,000 shares of the business’s stock. A total of $159,000 was realized by selling the stock at an average price of $15.90. This leaves the insider owning 514,413 shares of the company worth $6.23 million. Insiders disposed of 3,418,250 shares of company stock worth roughly $41.4 million over the past 1 year. A total of 10.64% of the company’s stock is owned by insiders.
A candlestick chart of Patterson-UTI Energy Inc (NASDAQ: PTEN) showed a price of $12.25 on Thursday morning. During the past 12 months, Patterson-UTI Energy Inc has had a low of $9.70 and a high of $19.81. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 1.76, and a quick ratio of 1.61. According to the stock market information, the enterprise value for the company is $5.72B, which is based on a 7.57 price-to-earnings ratio, a 0.17 price-to-earnings-growth ratio, and a beta of 2.41. The fifty day moving average price for PTEN is $13.85 and a two-hundred day moving average price translates $13.21 for the stock.
The latest earnings results from Patterson-UTI Energy Inc (NASDAQ: PTEN) was released for Sep, 2023. According to the Oil & Gas Drilling Company, earnings per share came in at $0.4, missing analysts’ expectations of $0.44 by -0.04. This compares to $0.10 EPS in the same period last year. The net profit margin was 11.28% and return on equity was 20.98% for PTEN. The company reported revenue of $758.88 million for the quarter, compared to $622.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.96 percent. For the current quarter, analysts expect PTEN to generate $990.7M in revenue.
