On Friday, shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) marked $2.65 per share versus a previous $2.84 closing price. With having a -6.69% loss, an insight into the fundamental values of Patterson-UTI Energy, Inc., investors would also find a great ally in the technical patterns of the stock movements showed in stock charts. PTEN showed a fall of -74.76% within its YTD performance, with highs and lows between $1.61 – $10.95 during the period of 52 weeks, compared to the simple moving average of -40.07% in the period of the last 200 days.
Scotiabank equity researchers changed the status of Patterson-UTI Energy, Inc. (NASDAQ: PTEN) shares from “Sector Perform” to a “Sector Underperform” rating in the report published on July 16th, 2020. Other analysts, including Gabelli & Co, also published their reports on PTEN shares. Gabelli & Co repeated the rating from the previous report, marking PTEN under “Hold” rating, in the report published on April 27th, 2020. Additionally, PTEN shares got another “Market Perform” rating from Cowen, setting a target price of $3 on the company’s shares, according to the report published in April 14th, 2020. On the other hand, Wolfe Research Downgrade the “Underperform” rating for PTEN shares, as published in the report on March 19th, 2020. Morgan Stanley seems to be going bullish on the price of PTEN shares, based on the price prediction for PTEN, indicating that the shares will jump to $2.50, giving the shares “Equal-Weight” rating based on their report from March 16th, 2020. Another “Neutral” rating came from Piper Sandler.
[bold-text]Patterson-UTI Energy, Inc. (PTEN) Analysis[/bold-text]
The present dividend yield for PTEN owners is set at 0.03, marking the return investors will get regardless of the company’s performance in the upcoming period. However, in order for the company to be able to pay its dividends, just like it is the case with Patterson-UTI Energy, Inc., the company needs to provide a healthy cash flow, currently at the value of 1.98. In addition, the growth of sales from quarter to quarter is recording -62.90%, hinting the company’s progress in the upcoming progress.
In order to gain a clear insight on the performance of Patterson-UTI Energy, Inc. (PTEN) as it may occur in the future, there are more than several well-rounded types of analysis and research techniques, while equity is most certainly one of the more important indicators into the company’s growth and performance. In this case, you want to make sure that the return on the present equity of -35.90% is enough for you to make a profit out of your investment. You may also count in the quick ratio of the company, currently set at 1.80 so you would make sure that the company is able to cover the debts it may have, which can be easily seen in annual reports of the company.
Set to affect the volatility of a given stock, the average volume can also be a valuable indicator, while PTEN is currently recording an average of 3.91M in volumes. The volatility of the stock on monthly basis is set at 7.66%, while the weekly volatility levels are marked at 5.73%with -10.47% of loss in the last seven days. Additionally, long-term investors are predicting the target price of $3.95, indicating growth from the present price of $2.65, which can represent yet another valuable research and analysis points that can help you decide whether to invest in PTEN or pass.
[bold-text]What to Look for When Analyzing Patterson-UTI Energy, Inc. Shares?[/bold-text]
Patterson-UTI Energy, Inc. (PTEN) is based in the USA and it represents one of the well-known company operating with Energy sector. If you wish to compare PTEN shares with other companies under Electronic Equipment and Consumer Goods, a factor to note is the P/E value of for Patterson-UTI Energy, Inc., while the value can represent an indicator in the future growth of the company in terms of investor’s expectations. The later value should have a steady growth rate, increasing and growing gradually, which serves the purpose of reliably showcasing the progress of the company. The value -4.84 is supported by the yearly EPS growth of -42.60%.
Besides from looking into the fundamentals, you should also note the number of people inside the company owning the shares, as the values should be in line with the expectations of investors. In that spirit, the present ownership of stocks inside the company is set at 2.60%, which can provide you with an insight of how involved executives are in owning shares of the company. In oppose to the executives’ share, the institutional ownership counts of shares, carrying an equal significance as an indicator of value, as the presence of large investors may signal a strong company.
[bold-text]Are Institutional Investors Increasing Stakes in PTEN Shares?[/bold-text]
It appears that more than several institutional investors and hedge funds decided to increase stakes in PTEN in the recent period. That is how The Vanguard Group, Inc. now has an increase position in PTEN by 10.46% in the first quarter, owning 19.83 million shares of PTEN stocks, with the value of $56.51 million after the purchase of an additional 1,877,135 shares during the last quarter. In the meanwhile, BlackRock Fund Advisors also increased their stake in PTEN shares changed 1.50% in the first quarter, which means that the company now owns 19.05 million shares of company, all valued at $54.3 million after the acquisition of additional 282,366 shares during the last quarter.
Renaissance Technologies LLC acquired a new position in Patterson-UTI Energy, Inc. during the first quarter, with the value of $36.15 million, and Fuller & Thaler Asset Management, increased their stake in the company’s shares by 1.28% in the first quarter, now owning 104,058 shares valued at $23.42 million after the acquisition of the additional 8.22 million shares during the last quarter. In the end, SSgA Funds Management, Inc. increased their position by 93.39% during the first quarter, now owning 7.74 million PTEN shares, now holding the value of $22.07 million in PTEN with the purchase of the additional 1,807,275 shares during the period of the last quarter.