Patterson-UTI Energy Inc (NASDAQ:PTEN) shares, rose in value on Thursday, April 25, with the stock price down by -2.34% to the previous day’s close as strong demand from buyers drove the stock to $11.26.
Actively observing the price movement in the recent trading, the stock is buoying the session at $11.53. The PE ratio was 11.10 over 12-month period. Referring to stock’s 52-week performance, its high was $16.17, and the low was $9.70. On the whole, PTEN has fluctuated by -3.68% over the past month.
The company’s Forward Dividend Ratio is 0.32, with its dividend yield at 2.84%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.14B, with a low estimate of 1.51B and a high estimate of 1.52B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.52B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PTEN’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0.25, with the price of PTEN currently trading nearly -4.48% and -3.67% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.53, while the 7-day volatility ratio is showing 3.23% which for the 30-day chart, stands at 3.38%. Furthermore, Patterson-UTI Energy Inc (PTEN)’s beta value is 2.23, and its average true range (ATR) is 0.39.
A comparison of Patterson-UTI Energy Inc (PTEN) with its peers suggests the former has fared considerably weaker in the market. PTEN showed an intraday change of -2.34% in today’s session so far, and over the past year, it shrunk by -3.68%%.
Data on historical trading for Patterson-UTI Energy Inc (NASDAQ:PTEN) indicates that the trading volumes over the past 3 months, they’ve averaged 6.67 million. According to company’s latest data on outstanding shares, there are 411.20 million shares outstanding.
Nearly 12.63% of Patterson-UTI Energy Inc’s shares belong to company insiders and institutional investors own 86.83% of the company’s shares. The stock has risen by 4.26% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PTEN stock heading into the next quarter.
