Market Watch: Patterson-UTI Energy Inc (PTEN)’s Noteworthy Drop, Closing at 7.90

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As of close of business last night, Patterson-UTI Energy Inc’s stock clocked out at $7.90, down -1.00% from its previous closing price of $7.98. In other words, the price has decreased by -$1.00 from its previous closing price. On the day, 9.28 million shares were traded. PTEN stock price reached its highest trading level at $8.15 during the session, while it also had its lowest trading level at $7.74.

Ratios:

To gain a deeper understanding of PTEN’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 41.38 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 6.92. For the most recent quarter (mrq), Quick Ratio is recorded 1.30 and its Current Ratio is at 1.50. In the meantime, Its Debt-to-Equity ratio is 0.29 whereas as Long-Term Debt/Eq ratio is at 0.28.

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:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Jun 18 ’24 when Gillard Matthew sold 60,000 shares for $9.87 per share. The transaction valued at 592,200 led to the insider holds 114,692 shares of the business.

Drummond Robert Wayne Jr sold 150,000 shares of PTEN for $1,732,500 on May 20 ’24. The Director now owns 2,007,895 shares after completing the transaction at $11.55 per share. On Feb 29 ’24, another insider, Drummond Robert Wayne Jr, who serves as the Director of the company, sold 187,916 shares for $11.73 each. As a result, the insider received 2,204,255 and left with 2,473,239 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 3105094912 and an Enterprise Value of 4353113600. As of this moment, Patterson-UTI’s Price-to-Earnings (P/E) ratio for their current fiscal year is 26.25, and their Forward P/E ratio for the next fiscal year is 46.43. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.59. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.57 while its Price-to-Book (P/B) ratio in mrq is 0.68. Its current Enterprise Value per Revenue stands at 0.798 whereas that against EBITDA is 3.146.

Stock Price History:

Over the past 52 weeks, PTEN has reached a high of $14.26, while it has fallen to a 52-week low of $7.45. The 50-Day Moving Average of the stock is -6.21%, while the 200-Day Moving Average is calculated to be -22.84%.

Shares Statistics:

It appears that PTEN traded 7.39M shares on average per day over the past three months and 8838290 shares per day over the past ten days. A total of 411.20M shares are outstanding, with a floating share count of 354.53M. Insiders hold about 9.80% of the company’s shares, while institutions hold 94.26% stake in the company. Shares short for PTEN as of 1727654400 were 29774153 with a Short Ratio of 4.03, compared to 1724976000 on 26110410. Therefore, it implies a Short% of Shares Outstanding of 29774153 and a Short% of Float of 10.520000999999999.

Dividends & Splits

With its trailing 12-month dividend rate of 0.32, PTEN has a forward annual dividend rate of 0.32. Against a Trailing Annual Dividend Yield of 0.04010025The stock’s 5-year Average Dividend Yield is 2.12.

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