Is this a Prime Time To acquire Patterson-UTI Energy Inc. (PTEN) stock

The price of Patterson-UTI Energy Inc. (NASDAQ: PTEN) closed at 13.57 in the last session, down -4.10% from day before closing price of $14.15. In other words, the price has decreased by $-0.58 from its previous closing price. On the day, 2163412 shares were traded. PTEN reached its highest trading level at $13.99 during the session, while it also had its lowest trading level at $13.37.

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We take a closer look at PTEN’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 1.30 and its Current Ratio is at 1.40. In the meantime, Its Debt-to-Equity ratio is 0.56 whereas as Long-Term Debt/Eq ratio is at 0.56.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on July 15, 2022, Downgraded its rating to Neutral and sets its target price to $13.50 from $22 previously.

On June 01, 2022, Piper Sandler Downgraded its rating to Neutral which previously was Overweight and also upped its target price recommendation from $21 to $22.75.

JP Morgan Upgraded its Underweight to Neutral on May 26, 2022, while the target price for the stock was maintained at $20.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Aug 23 when Holcomb James Michael sold 8,333 shares for $16.00 per share. The transaction valued at 133,328 led to the insider holds 348,109 shares of the business.

Holcomb James Michael sold 8,333 shares of PTEN for $135,911 on Jul 29. The President-Drilling Subsidiary now owns 356,442 shares after completing the transaction at $16.31 per share. On Jul 11, another insider, Hendricks William Andrew JR, who serves as the President & CEO of the company, sold 100,000 shares for $13.76 each. As a result, the insider received 1,376,000 and left with 1,801,374 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.58 while its Price-to-Book (P/B) ratio in mrq is 1.86.

Stock Price History:

Over the past 52 weeks, PTEN has reached a high of $20.53, while it has fallen to a 52-week low of $6.70. The 50-Day Moving Average of the stock is 14.73, while the 200-Day Moving Average is calculated to be 14.05.

Shares Statistics:

According to the various share statistics, PTEN traded on average about 3.01M shares per day over the past 3-months and 2.62M shares per day over the past 10 days. A total of 216.16M shares are outstanding, with a floating share count of 212.35M. Shares short for PTEN as of Jul 14, 2022 were 9.32M with a Short Ratio of 2.83, compared to 9.79M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.31% and a Short% of Float of 5.98%.

Dividends & Splits

The forward annual dividend rate for PTEN is 0.16, which was 0.08 in the trailing 12 months. Against a Trailing Annual Dividend Yield of 0.57%, it implies a Forward Annual Dividend Yield of 0.97%. The stock’s 5-year Average Dividend Yield is 1.49.

Earnings Estimates

The company has 11 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.08 for the current quarter, with a high estimate of $0.13 and a low estimate of $-0.03, while EPS last year was $-0.43. The consensus estimate for the next quarter is $0.12, with high estimates of $0.18 and low estimates of $0.01.

Analysts are recommending an EPS of between $0.11 and $-0.3 for the fiscal current year, implying an average EPS of $0. EPS for the following year is $1.01, with 13 analysts recommending between $1.55 and $0.11.

Revenue Estimates

A total of 13 analysts have provided revenue estimates for PTEN’s current fiscal year. The highest revenue estimate was $2.55B, while the lowest revenue estimate was $2.26B, resulting in an average revenue estimate of $2.37B. In the same quarter a year ago, actual revenue was $1.36B, up 74.40% from the average estimate. Based on 13 analysts’ estimates, the company’s revenue will be $2.86B in the next fiscal year. The high estimate is $3.25B and the low estimate is $2.6B. The average revenue growth estimate for next year is up 20.90% from the average revenue estimate for this year.