Patterson-UTI Energy Inc (NASDAQ:PTEN) price on Thursday, April 10, fall -14.79% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.59.
A look at the stock’s price movement, the close in the last trading session was $6.56, moving within a range at $5.435 and $6.18. The beta value (5-Year monthly) was 1.61. Turning to its 52-week performance, $12.17 and $5.12 were the 52-week high and 52-week low respectively. Overall, PTEN moved -28.70% over the past month.
Patterson-UTI Energy Inc’s market cap currently stands at around $2.16 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-05. The company has a Forward Dividend ratio of 0.32, with its dividend yield at 5.72%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.18B for the company’s revenue for the quarter, with a low and high estimate of 1.14B and 1.22B respectively. The average forecast suggests down to a -21.88% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.83B, representing a -10.10% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PTEN is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 7 recommend PTEN as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PTEN’s current price about -26.47% and -29.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 33.02, while 7-day volatility ratio is 18.29% and 7.98% in the 30-day chart. Further, Patterson-UTI Energy Inc (PTEN) has a beta value of 1.35, and an average true range (ATR) of 0.66. Analysts have given the company’s stock an average 52-week price target of $11.25, forecast between a low of $9 and high of $13. Looking at the price targets, the low is -61.0% off current price level while to achieve the yearly target high, price needs to move -132.56%. Nonetheless, investors will most likely welcome a -101.25% jump to $11.25 which is the analysts’ median price.
If we refocus on Patterson-UTI Energy Inc (NASDAQ:PTEN), historical trading data shows that trading volumes averaged 12.37 over the past 10 days and 11.23 million over the past 3 months. The company’s latest data on shares outstanding shows there are 387.34 million shares.
The 9.89% of Patterson-UTI Energy Inc’s shares are in the hands of company insiders while institutional holders own 97.92% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.21 million on 2025-03-14, giving us a short ratio of 2.17. The data shows that as of 2025-03-14 short interest in Patterson-UTI Energy Inc (PTEN) stood at 913.0000000000001 of shares outstanding, with shares short rising to 23.36 million registered in 2025-02-14. Current price change has pushed the stock -32.32% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PTEN stock continues to rise going into the next quarter.
