Patterson-UTI Energy Inc (NASDAQ: PTEN) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 411.20M common shares owned by the public and among those 356.63M shares have been available to trade.

The company’s stock has a 5-day price change of 0.84% and 7.86% over the past three months. PTEN shares are trading 10.56% year to date (YTD), with the 12-month market performance up to 1.10% higher. It has a 12-month low price of $9.70 and touched a high of $16.17 over the same period. PTEN has an average intraday trading volume of 6.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.71%, 6.41%, and -5.10% respectively.

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Institutional ownership of Patterson-UTI Energy Inc (NASDAQ: PTEN) shares accounts for 86.75% of the company’s 411.20M shares outstanding.

It has a market capitalization of $4.87B and a beta (3y monthly) value of 2.23. The stock’s trailing 12-month PE ratio is 11.77, while the earnings-per-share (ttm) stands at $1.01. The company has a PEG of 0.26 and a Quick Ratio of 1.24 with the debt-to-equity ratio at 0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.27% over the week and 3.49% over the month.

Analysts forecast that Patterson-UTI Energy Inc (PTEN) will achieve an EPS of $0.13 for the current quarter, $0.15 for the next quarter and $1.05 for 2025. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.14. Comparatively, EPS for the current quarter was $0.46 a year ago. Earnings per share for the fiscal year are expected to decrease by -47.23%, and 63.54% over the next financial year.

Goldman coverage for the Patterson-UTI Energy Inc (PTEN) stock in a research note released on December 19, 2023 offered a Neutral rating with a price target of $12. Morgan Stanley was of a view on October 17, 2023 that the stock is Equal-Weight, while BofA Securities gave the stock Buy rating on October 16, 2023, issuing a price target of $14- $16. Citigroup on their part issued Buy rating on October 09, 2023.

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