The stock of Patterson-UTI Energy Inc (NASDAQ:PTEN) last traded at $10.98, down -4.27% from the previous session.
PTEN stock price is now -4.32% away from the 50-day moving average and -10.00% away from the 200-day moving average. The market capitalization of the company currently stands at $4.41B.
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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 150,000 shares of the company’s stock on May 20 ’24. The stock was sold for $1,732,500 at an average price of $11.55. Upon completion of the transaction, the Director now directly owns 2,007,895 shares in the company, valued at $22.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, Director Drummond Robert Wayne Jr sold 65,344 shares of the business’s stock. A total of $768,445 was realized by selling the stock at an average price of $11.76. This leaves the insider owning 2,407,895 shares of the company worth $26.44 million. A total of 9.49% 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 1.48, and a quick ratio of 1.28. According to the stock market information, the enterprise value for the company is $5572764160, which is based on a 16.19 price-to-earnings ratio, a 0.36 price-to-earnings-growth ratio, and a beta of 2.19. The fifty day moving average price for PTEN is $11.4602 and a two-hundred day moving average price translates $12.17875 for the stock.
The latest earnings results from Patterson-UTI Energy Inc (NASDAQ: PTEN) was released for 2024-03-31. According to the Oil & Gas Drilling Company, earnings per share came in at 0.4, missing analysts’ expectations of 0.44 by -0.04. This compares to $0.46 EPS in the same period last year. The net profit margin was 4.07% and return on equity was 6.17% for PTEN. The company reported revenue of $1.51 billion for the quarter, compared to $791.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 90.75 percent. For the current quarter, analysts expect PTEN to generate $1.43B in revenue.
