The stock of Patterson-UTI Energy Inc (NASDAQ:PTEN) last traded at $7.42, down -3.26% from the previous session.
PTEN stock price is now -9.60% away from the 50-day moving average and -26.75% away from the 200-day moving average. The market capitalization of the company currently stands at $2.80B.
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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 $0.85 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 $14.9 million. A total of 9.80% of the company’s stock is owned by insiders.
During the past 12 months, Patterson-UTI Energy Inc has had a low of $7.45 and a high of $13.14. As of last week, the company has a debt-to-equity ratio of 0.37, a current ratio of 1.52, and a quick ratio of 1.32. The fifty day moving average price for PTEN is $8.208 and a two-hundred day moving average price translates $10.1294 for the stock.
The latest earnings results from Patterson-UTI Energy Inc (NASDAQ: PTEN) was released for 2024-09-30. The net profit margin was -14.73% and return on equity was -20.31% for PTEN. The company reported revenue of $1.36 billion for the quarter, compared to $1.01 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 34.19 percent.
