The stock of Patterson-UTI Energy Inc (NASDAQ:PTEN) last traded at $11.69, down -1.27% from the previous session.
PTEN stock price is now 4.82% away from the 50-day moving average and -7.06% away from the 200-day moving average. The market capitalization of the company currently stands at $4.77B.
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 $28.15 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 $28.91 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 $5.92B, which is based on a 11.52 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 $11.18 and a two-hundred day moving average price translates $12.58 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.
Patterson-UTI Energy Inc(PTEN) Company Profile
Patterson-UTI Energy, Inc., through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries. The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, and cementing; and involved in the power solutions natural gas fueling, and logistics and storage businesses. The Drilling Products segment manufactures and distributes drill bits for energy and mining markets. It also provides software and services, such as MWD Survey FDIR, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well; HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir; HiFi Guidance, utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir; and rents oilfield tools. The company was founded in 1978 and is headquartered in Houston, Texas.
