While Patterson-UTI Energy Inc has underperformed by -2.06%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PTEN fell by -30.07%, with highs and lows ranging from $12.65 to $7.15, whereas the simple moving average fell by -12.11% in the last 200 days.
On January 06, 2025, Raymond James Downgraded Patterson-UTI Energy Inc (NASDAQ: PTEN) to Mkt Perform. A report published by Goldman on December 13, 2024, Upgraded its rating to ‘Buy’ for PTEN. Goldman Initiated an Neutral rating on December 19, 2023, and assigned a price target of $12. Morgan Stanley October 17, 2023d its ‘Overweight’ rating to ‘Equal-Weight’ for PTEN, as published in its report on October 17, 2023. BofA Securities’s report from October 16, 2023 suggests a price prediction of $16 for PTEN shares, giving the stock a ‘Buy’ rating. Citigroup also rated the stock as ‘Buy’.
Analysis of Patterson-UTI Energy Inc (PTEN)
The current dividend for PTEN investors is set at $0.32 per share, indicating investors will get a return regardless of how the company performs over the next quarter. Further, the quarter-over-quarter increase in sales is 34.19%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Patterson-UTI Energy Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -20.31% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.32, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and PTEN is recording an average volume of 8.54M. On a monthly basis, the volatility of the stock is set at 3.60%, whereas on a weekly basis, it is put at 4.12%, with a loss of -7.77% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.46, showing growth from the present price of $8.07, which can serve as yet another indication of whether PTEN is worth investing in or should be passed over.
How Do You Analyze Patterson-UTI Energy Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 9.92%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 94.31% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PTEN shares are owned by institutional investors to the tune of 94.31% at present.
