In yesterday’s Wall Street session, Patterson-UTI Energy Inc (NASDAQ:PTEN) shares traded at $11.73, down -1.59% from the previous session.
PTEN stock price is now 6.27% away from the 50-day moving average and -6.62% away from the 200-day moving average. The market capitalization of the company currently stands at $4.79B.
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On December 19, 2023, Goldman recently initiated its ‘Neutral’ rating on the stock quoting a target price of $12, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, Drummond Robert Wayne Jr, Director sold 65,344 shares of the company’s stock on Mar 01 ’24. The stock was sold for $768,445 at an average price of $11.76. Upon completion of the transaction, the Director now directly owns 2,407,895 shares in the company, valued at $28.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 29 ’24, Director Drummond Robert Wayne Jr sold 187,916 shares of the business’s stock. A total of $2,204,255 was realized by selling the stock at an average price of $11.73. This leaves the insider owning 2,473,239 shares of the company worth $29.01 million. A total of 12.63% of the company’s stock is owned by insiders.
During the past 12 months, Patterson-UTI Energy Inc has had a low of $9.70 and a high of $16.17. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.41, and a quick ratio of 1.24. According to the stock market information, the enterprise value for the company is $5.94B, which is based on a 11.56 price-to-earnings ratio, a 0.26 price-to-earnings-growth ratio, and a beta of 2.23. The fifty day moving average price for PTEN is $11.06 and a two-hundred day moving average price translates $12.57 for the stock.
The latest earnings results from Patterson-UTI Energy Inc (NASDAQ: PTEN) was released for Dec, 2023. According to the Oil & Gas Drilling Company, earnings per share came in at $0.15, missing analysts’ expectations of $0.19 by -0.04. This compares to $0.45 EPS in the same period last year. The net profit margin was 5.94% and return on equity was 7.60% for PTEN. The company reported revenue of $1.58 billion for the quarter, compared to $788.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 100.93 percent. For the current quarter, analysts expect PTEN to generate $1.52B in revenue.
