The price of Patterson-UTI Energy Inc (NASDAQ:PTEN) shares last traded on Wall Street fell -3.91% to $10.82.
PTEN stock price is now -7.64% away from the 50-day moving average and -13.65% away from the 200-day moving average. The market capitalization of the company currently stands at $4.42B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
On December 19, 2023, Goldman recently initiated its ‘Neutral’ rating on the stock quoting a target price of $12, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
In other news, Drummond Robert Wayne Jr, Director sold 65,344 shares of the company’s stock on Mar 01 ’24. The stock was sold for $768,445 at an average price of $11.76. Upon completion of the transaction, the Director now directly owns 2,407,895 shares in the company, valued at $26.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 29 ’24, Director Drummond Robert Wayne Jr sold 187,916 shares of the business’s stock. A total of $2,204,255 was realized by selling the stock at an average price of $11.73. This leaves the insider owning 2,473,239 shares of the company worth $26.76 million. A total of 12.63% of the company’s stock is owned by insiders.
During the past 12 months, Patterson-UTI Energy Inc has had a low of $9.70 and a high of $16.17. As of last week, the company has a debt-to-equity ratio of 0.28, a current ratio of 1.41, and a quick ratio of 1.24.
According to the Oil & Gas Drilling Company, earnings per share came in at 0.46, beating analysts’ expectations of 0.35 by 0.11. This compares to $0.45 EPS in the same period last year. The net profit margin was 5.94% and return on equity was 7.60% for PTEN. The company reported revenue of $1.58 billion for the quarter, compared to $788.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 100.93 percent. For the current quarter, analysts expect PTEN to generate $1.52B in revenue.
