Patterson-UTI Energy Inc (NASDAQ: PTEN) closed the day trading at $12.11 up 0.75% from the previous closing price of $12.02. In other words, the price has increased by $+0.09 from its previous closing price. On the day, 3739337 shares were traded.
Ratios:
For a better understanding of PTEN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 25.65 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.67. For the most recent quarter (mrq), Quick Ratio is recorded 1.24 and its Current Ratio is at 1.41. In the meantime, Its Debt-to-Equity ratio is 0.28 whereas as Long-Term Debt/Eq ratio is at 0.27.
On December 19, 2023, Goldman started tracking the stock assigning a Neutral rating and target price of $12.
Morgan Stanley Downgraded its Overweight to Equal-Weight on October 17, 2023, whereas the target price for the stock was revised from $20 to $17.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 01 ’24 when Drummond Robert Wayne Jr sold 65,344 shares for $11.76 per share. The transaction valued at 768,445 led to the insider holds 2,407,895 shares of the business.
Drummond Robert Wayne Jr sold 187,916 shares of PTEN for $2,204,255 on Feb 29 ’24. The Director now owns 2,473,239 shares after completing the transaction at $11.73 per share. On Dec 01 ’23, another insider, CEPAK TIFFANY THOM, who serves as the Director of the company, sold 15,000 shares for $11.78 each. As a result, the insider received 176,700 and left with 107,081 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, PTEN now has a Market Capitalization of 4.91B and an Enterprise Value of 6.06B. As of this moment, Patterson-UTI’s Price-to-Earnings (P/E) ratio for their current fiscal year is 11.93, and their Forward P/E ratio for the next fiscal year is 11.39. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.27. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.19 while its Price-to-Book (P/B) ratio in mrq is 1.03. Its current Enterprise Value per Revenue stands at 1.46 whereas that against EBITDA is 5.55.
Stock Price History:
Over the past 52 weeks, PTEN has reached a high of $16.17, while it has fallen to a 52-week low of $9.70. The 50-Day Moving Average of the stock is 11.53, while the 200-Day Moving Average is calculated to be 12.61.
Shares Statistics:
Over the past 3-months, PTEN traded about 6.77M shares per day on average, while over the past 10 days, PTEN traded about 6.31M shares per day. A total of 411.20M shares are outstanding, with a floating share count of 356.63M. Insiders hold about 12.63% of the company’s shares, while institutions hold 86.69% stake in the company. Shares short for PTEN as of Mar 28, 2024 were 26.44M with a Short Ratio of 3.90, compared to 22.15M on Feb 29, 2024. Therefore, it implies a Short% of Shares Outstanding of 6.48% and a Short% of Float of 7.82%.
Dividends & Splits
PTEN’s forward annual dividend rate is 0.32, up from 0.32 a year ago. Against a Trailing Annual Dividend Yield of 2.66%, it implies a Forward Annual Dividend Yield of 2.64%. The stock’s 5-year Average Dividend Yield is 1.95. The current Payout Ratio is 36.39% for PTEN, which recently paid a dividend on Mar 15, 2024 with an ex-dividend date of Feb 29, 2024. Stock splits for the company last occurred on Jul 01, 2004 when the company split stock in a 2:1 ratio.
Earnings Estimates
Current recommendations for the stock of the company come from 18 analysts. On average, analysts expect EPS of $0.13 for the current quarter, with a high estimate of $0.14 and a low estimate of $0.11, while EPS last year was $0.46. The consensus estimate for the next quarter is $0.15, with high estimates of $0.21 and low estimates of $0.09.
Analysts are recommending an EPS of between $0.92 and $0.43 for the fiscal current year, implying an average EPS of $0.65. EPS for the following year is $1.04, with 19 analysts recommending between $1.44 and $0.71.
Revenue Estimates
15 analysts predict $1.52B in revenue for the current quarter. It ranges from a high estimate of $1.53B to a low estimate of $1.51B. As of the current estimate, Patterson-UTI Energy Inc’s year-ago sales were $791.8M, an estimated increase of 91.40% from the year-ago figure. For the next quarter, 15 analysts are estimating revenue of $1.53B, an increase of 101.60% over than the figure of $91.40% in the same quarter last year. There is a high estimate of $1.57B for the next quarter, whereas the lowest estimate is $1.46B.
A total of 18 analysts have provided revenue estimates for PTEN’s current fiscal year. The highest revenue estimate was $6.54B, while the lowest revenue estimate was $5.89B, resulting in an average revenue estimate of $6.18B. In the same quarter a year ago, actual revenue was $4.15B, up 49.10% from the average estimate. Based on 17 analysts’ estimates, the company’s revenue will be $6.57B in the next fiscal year. The high estimate is $7.21B and the low estimate is $5.93B. The average revenue growth estimate for next year is up 6.20% from the average revenue estimate for this year.
