Patterson-UTI Energy Inc (PTEN) volume hits 8.54 million: A New Opening for Investors

Witnessing the stock’s movement on the chart, on Wednesday, Patterson-UTI Energy Inc (NASDAQ: PTEN) set off with pace as it heaved 3.36% to $12.32, before settling in for the price of $11.92 at the close. Taking a more long-term approach, PTEN posted a 52-week range of $9.70-$16.17.

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The Energy Sector giants’ yearly sales growth during the last 5-year period was 18.44%. Nevertheless, stock’s Earnings Per Share (EPS) this year is -47.23%. This publicly-traded company’s shares outstanding now amounts to $411.20 million, simultaneously with a float of $356.63 million. The organization now has a market capitalization sitting at $5.03 billion. At the time of writing, stock’s 50-day Moving Average stood at $11.37, while the 200-day Moving Average is $12.59.

Patterson-UTI Energy Inc (PTEN) Ownership Facts and Figures

Nothing is more important than checking the behaviour of major investors towards the stock of the Oil & Gas Drilling industry. Patterson-UTI Energy Inc’s current insider ownership accounts for 12.63%, in contrast to 86.76% institutional ownership. According to the most recent insider trade that took place on Mar 01 ’24, this organization’s Director sold 65,344 shares at the rate of 11.76, making the entire transaction reach 768,445 in total value, affecting insider ownership by 2,407,895. Preceding that transaction, on Feb 29 ’24, Company’s Director sold 187,916 for 11.73, making the whole transaction’s value amount to 2,204,255. This particular insider is now the holder of 2,473,239 in total.

Patterson-UTI Energy Inc (PTEN) Earnings and Revenue Records

As on 12/30/2023, Multinational firm has announced its last quarter scores, in which it reported $0.15 earnings per share (EPS) for the period falling under the consensus outlook (set at $0.19) by -$0.04. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.15 per share during the current fiscal year.

Patterson-UTI Energy Inc’s EPS decrease for this current 12-month fiscal period is -47.23% and is forecasted to reach 1.08 in the upcoming year.

Patterson-UTI Energy Inc (NASDAQ: PTEN) Trading Performance Indicators

Let’s observe the current performance indicators for Patterson-UTI Energy Inc (PTEN). It’s Quick Ratio in the last reported quarter now stands at 1.24. The Stock has managed to achieve an average true range (ATR) of 0.41. Alongside those numbers, its PE Ratio stands at $12.14, and its Beta score is 2.24. Another valuable indicator worth pondering is a publicly-traded company’s price to sales ratio for trailing twelve months, which is currently 1.21. Similarly, its price to free cash flow for trailing twelve months is now 12.89.

In the same vein, PTEN’s Diluted EPS (Earnings per Share) trailing twelve months is recorded 1.01, a figure that is expected to reach 0.12 in the next quarter, and analysts are predicting that it will be 1.08 at the market close of one year from today.

Technical Analysis of Patterson-UTI Energy Inc (PTEN)

Going through the that latest performance of [Patterson-UTI Energy Inc, PTEN]. Its last 5-days volume of 7.52 million indicated improvement to the volume of 6.8 million it revealed a year ago. During the previous 9 days, stock’s Stochastic %D was recorded 59.94% While, its Average True Range was 0.40.

Raw Stochastic average of Patterson-UTI Energy Inc (PTEN) in the period of the previous 100 days is set at 89.39%, which indicates a major fall in contrast to 94.05% during the last 2-weeks. If we go through the volatility metrics of the stock, In the past 14-days, Company’s historic volatility was 25.79% that was lower than 37.31% volatility it exhibited in the past 100-days period.