While Patterson-UTI Energy Inc has underperformed by -0.83%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PTEN rose by 0.08%, with highs and lows ranging from $16.17 to $9.70, whereas the simple moving average fell by -4.61% in the last 200 days.
On January 16, 2024, The Benchmark Company Downgraded Patterson-UTI Energy Inc (NASDAQ: PTEN) to Hold. A report published by Goldman on December 19, 2023, Initiated its previous ‘Neutral’ rating for PTEN. Morgan Stanley also Downgraded PTEN shares as ‘Equal-Weight’, setting a target price of $17 on the company’s shares in a report dated October 17, 2023. BofA Securities October 16, 2023d the rating to Buy on October 16, 2023, and set its price target from $14 to $16. Citigroup October 09, 2023d its ‘Neutral’ rating to ‘Buy’ for PTEN, as published in its report on October 09, 2023. Stifel’s report from September 05, 2023 suggests a price prediction of $19 for PTEN shares, giving the stock a ‘Buy’ rating. The Benchmark Company also rated the stock as ‘Buy’.
Analysis of Patterson-UTI Energy Inc (PTEN)
With PTEN’s current dividend of $0.32 per share, investors can expect to earn a return regardless of performance. Further, the quarter-over-quarter increase in sales is 100.93%, showing a positive trend in the upcoming months.
Patterson-UTI Energy Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 7.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.24, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and PTEN has an average volume of 6.81M. On a monthly basis, the volatility of the stock is set at 3.60%, whereas on a weekly basis, it is put at 3.76%, with a gain of 0.84% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.03, showing growth from the present price of $12.02, which can serve as yet another indication of whether PTEN is worth investing in or should be passed over.
How Do You Analyze Patterson-UTI Energy Inc Shares?
Oil & Gas Drilling giant Patterson-UTI Energy Inc (PTEN) is based in the USA and is one of the largest companies in the market. When comparing Patterson-UTI Energy Inc shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 11.84, there is a growth in quarterly earnings of -67.52%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 12.63%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.69% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PTEN shares are owned by institutional investors to the tune of 86.69% at present.
