When is the right time to cash out of Patterson-UTI Energy Inc [PTEN] stock?

In yesterday’s Wall Street session, Patterson-UTI Energy Inc (NASDAQ:PTEN) shares traded at $12.17, up 0.33% from the previous session.

As of this writing, 19 analysts cover 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 $21.00 and a low of $16.00, we find $17.00. Given the previous closing price of $12.13, this indicates a potential upside of 40.15 percent. PTEN stock price is now -11.26% away from the 50-day moving average and -7.38% away from the 200-day moving average. The market capitalization of the company currently stands at $5.08B.

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There are 5 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $17.47 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 $6.14 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 $6.26 million. Insiders disposed of 3,418,250 shares of company stock worth roughly $41.6 million over the past 1 year. A total of 10.64% of the company’s stock is owned by insiders.

Tuesday morning saw Patterson-UTI Energy Inc (NASDAQ: PTEN) opened at $12.03. During the past 12 months, Patterson-UTI Energy Inc has had a low of $9.70 and a high of $19.62. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.37, and a quick ratio of 1.19. According to the stock market information, the enterprise value for the company is $6.34B, which is based on a 9.21 price-to-earnings ratio, a 0.21 price-to-earnings-growth ratio, and a beta of 2.40. The fifty day moving average price for PTEN is $13.71 and a two-hundred day moving average price translates $13.14 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 $0.2, missing analysts’ expectations of $0.24 by -0.04. This compares to $0.28 EPS in the same period last year. The net profit margin was 8.49% and return on equity was 8.77% for PTEN. The company reported revenue of $1.01 billion for the quarter, compared to $727.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 39.03 percent. For the current quarter, analysts expect PTEN to generate $1.53B in revenue.

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