In the latest session, Patterson-UTI Energy Inc (NASDAQ: PTEN) closed at $11.84 up 0.94% from its previous closing price of $11.73. In other words, the price has increased by $+0.11 from its previous closing price. On the day, 6699160 shares were traded.
Ratios:
For a deeper understanding of Patterson-UTI Energy Inc’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 25.08 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 12.39. 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:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. 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 4.83B and an Enterprise Value of 5.99B. As of this moment, Patterson-UTI’s Price-to-Earnings (P/E) ratio for their current fiscal year is 11.67, and their Forward P/E ratio for the next fiscal year is 10.82. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.26. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.17 while its Price-to-Book (P/B) ratio in mrq is 1.01. Its current Enterprise Value per Revenue stands at 1.44 whereas that against EBITDA is 5.49.
Stock Price History:
The Beta on a monthly basis for PTEN is 2.22, which has changed by 9.33% over the last 52 weeks, in comparison to a change of 32.00% over the same period for the S&P500. 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 11.09, while the 200-Day Moving Average is calculated to be 12.57.
Shares Statistics:
For the past three months, PTEN has traded an average of 6.70M shares per day and 7.07M over the past ten days. 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 86.76% stake in the company. Shares short for PTEN as of Feb 29, 2024 were 22.15M with a Short Ratio of 3.30, compared to 24.6M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 5.43% and a Short% of Float of 6.56%.
Dividends & Splits
According to the company, the forward annual dividend rate for PTEN is 0.32, from 0.32 in the trailing year. Against a Trailing Annual Dividend Yield of 2.73%, it implies a Forward Annual Dividend Yield of 2.70%. The stock’s 5-year Average Dividend Yield is 1.93. 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
There are 18 different market analysts currently analyzing its stock. 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 $0.12.
Analysts are recommending an EPS of between $0.92 and $0.53 for the fiscal current year, implying an average EPS of $0.66. EPS for the following year is $1.07, with 19 analysts recommending between $1.44 and $0.71.
Revenue Estimates
A total of 15 analysts believe the company’s revenue will be $1.52B this 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 102.10% 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 $1.51B.
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 $6.07B, resulting in an average revenue estimate of $6.19B. In the same quarter a year ago, actual revenue was $4.15B, up 49.40% from the average estimate. Based on 17 analysts’ estimates, the company’s revenue will be $6.58B in the next fiscal year. The high estimate is $7.21B and the low estimate is $6.17B. The average revenue growth estimate for next year is up 6.30% from the average revenue estimate for this year.
