Patterson-UTI Energy Inc (PTEN) Clearly Signals Buy-Into the Stock: Don’t ignore the signals

With 6.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.72 million shares. During the session, the Oil & Gas Drilling company that operates in wider Energy sector, reached to the highest price of $11.98 whereas the lowest price it dropped to was $11.68. The 52-week range on PTEN shows that it touched its highest point at $16.17 and its lowest point at $9.70 during that stretch. It currently has a 1-year price target of $16.03. With its current market cap of 4.80 billion, PTEN has annualized dividend of $0.32 while the current yield stands at 2.72%. Beta for the stock currently stands at 2.22.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PTEN was up-trending over the past week, with a rise of 0.51%, but this was up by 1.56% over a month. Three-month performance surged to 8.10% while six-month performance fell -19.30%. The stock lost -0.25% in the past year, while it has gained 8.80% so far this year. A look at the trailing 12-month EPS for PTEN yields 1.01 with Next year EPS estimates of 1.08. For the next quarter, that number is 0.12. This implies an EPS growth rate of -47.23% for this year and 63.54% for next year.

Float and Shares Shorts:

At present, 411.20 million PTEN shares are outstanding with a float of 356.63 million shares on hand for trading. On Mar 15, 2024, short shares totaled 25.58 million, which was 6.27% higher than short shares on Feb 15, 2024. In addition to PTMN as the firm’s Portman Ridge Finance Corporati, PTON serves as its Peloton Interactive, Inc.

Institutional Ownership:

Through their ownership of 97.21% of PTEN’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PTEN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.

Dividends & Yield:

In terms of dividends, PTEN has a current ratio of $0.32, which is $0.32 over the trailing 12-months, while a dividend of $– is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and PTEN currently yields $2.72. In the past year, PTEN’s dividend yield has been $2.72, but when looking at the stock over the past five years, its yield has been $1.36. Accordingly, PTEN has a current buyback yield of $4.18. This was $4.18 for the TTM, and it was $0.47 for the past five years.