In yesterday’s Wall Street session, Patterson-UTI Energy Inc (NASDAQ:PTEN) shares traded at $10.38, down -3.08% from the previous session.
PTEN stock price is now -1.10% away from the 50-day moving average and -8.44% away from the 200-day moving average. The market capitalization of the company currently stands at $4.17B.
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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, Gillard Matthew, President-Completions sold 60,000 shares of the company’s stock on Jun 18 ’24. The stock was sold for $592,200 at an average price of $9.87. Upon completion of the transaction, the President-Completions now directly owns 114,692 shares in the company, valued at $1.19 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 20 ’24, Director Drummond Robert Wayne Jr sold 150,000 shares of the business’s stock. A total of $1,732,500 was realized by selling the stock at an average price of $11.55. This leaves the insider owning 2,007,895 shares of the company worth $20.84 million. A total of 9.59% of the company’s stock is owned by insiders.
During the past 12 months, Patterson-UTI Energy Inc has had a low of $9.51 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 $5331743232, which is based on a 15.31 price-to-earnings ratio, a 0.34 price-to-earnings-growth ratio, and a beta of 2.20. The fifty day moving average price for PTEN is $10.4422 and a two-hundred day moving average price translates $11.2325 for the stock.
The latest earnings results from Patterson-UTI Energy Inc (NASDAQ: PTEN) was released for 2024-03-31. 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.
