Patterson-UTI Energy, Inc. (NASDAQ:PTEN) price closed lower on Thursday, Dec 31, sinking -1.87% below its previous close.
A look at the daily price movement shows that the last close reads $5.36, with intraday deals fluctuated between $5.24 and $5.45. The company’s 5Y monthly beta was ticking 3.21 while its P/E ratio in the trailing 12-month period read 0. Taking into account the 52-week price action we note that the stock hit a 52-week high of $10.95 and 52-week low of $1.61. The stock added 16.76% on its value in the past month.
Patterson-UTI Energy, Inc., which has a market valuation of $1Billion, is expected to release its quarterly earnings report Feb 04, 2021- Feb 08, 2021. The company stock has a Forward Dividend ratio of 0.08, while the dividend yield is 1.52. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking PTEN have forecast the quarterly EPS to grow by -$0.63 per share this quarter, while the same analysts predict the annual EPS to hit -$2.25 for the year 2021 and up to -$2.13 for 2022. In this case, analysts estimate an annual EPS growth of 1.23% for the year and -0.05% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $215.54 Million, with the likely lows of $202.3 Million and highs of $223.26 Million. The average estimate suggests sales growth for the quarter will likely fall by -56.2% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.12 Billion for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to drop -54.8% below that which the company brought in 2020.
On the technical perspective front, indicators give PTEN a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 21 analysts have assigned PTEN a recommendation rating as follows: 11 rate it as a Hold; 4 advise Buy while 1 analyst(s) assign an Outperform rating. 1 analyst(s) have tagged the Patterson-UTI Energy, Inc. (PTEN) stock as Underperform, with 4 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 0. The overview shows that PTEN’s price is at present -1.37% off the SMA20 and 25.05% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 56.11, with weekly volatility standing at 4.68%. The indicator jumps to 6.68% when calculated based on the past 30 days. Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s beta value is holding at 3.21, while the average true range (ATR) indicator is currently reading 0.33. Considering analysts have assigned the stock a price target range of $2.3-$7 as the low and high respectively, we find the trailing 12-month average consensus price target to be $4.52. Based on this estimate, we see that current price is roughly -56.27% off the estimated low and 33.08% off the forecast high. Investors will no doubt be excited to see the share price rise to $4.75, which is the median consensus price, and at that level PTEN would be +-9.7% from current price.
Turning out attention to how the Patterson-UTI Energy, Inc. stock has performed in comparison to its peers in the industry, here’s what we find: PTEN’s stock is -1.87% on the day and -49.86% in the past 12 months, while Helmerich & Payne (HP) traded -1.78% in the last session and was positioned -48.84% down on its price 12 months ago. Another comparison is with Transocean Inc (RIG) whose stock price was up 1.32% in the last trading session, but has tanked -66.67% over the past year. Also, Nabors Industries (NBR) showed downtrend of -1.87% while its price kept floating at -49.86% over the past year. As for Patterson-UTI Energy, Inc., the P/E ratio stands at 0 lower than that of Helmerich & Payne’s at 0 and Transocean Inc’s 0. Elsewhere in the market, the S&P 500 Index has rallied 0.64% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with +0.65%.
An analysis of the Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stock in terms of its daily trading volume indicates that the 3-month average is 2.91 Million. However, this figure declines on the past 10-day timeline to an average of 1.33 Million.
Current record show that the company has 187.49 Million in outstanding shares. According to data from Thomson Reuters, insiders’ percentage holdings are 2.97% of outstanding shares while the percentage share held by institutions stands at 97.9%. The stats also highlight that short interest as of December 14, 2020, stood at 20.96 Million shares, which puts the short ratio at the time at 5.92. From this we can glean that short interest is 11.18% of company’s current outstanding shares. Notably, we see that shares short in December rose slightly given the previous month’s figure stood at 17.74 Million. But the -49.9% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying higher ahead.
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