Geometry Dash APK Hill Climb Racing APK
47.2 F
New York
Wednesday, January 19, 2022

Patterson-UTI Energy Inc. (NASDAQ:PTEN) Finding Strong Support

Must read

Bombardier, Inc. (OTCMKTS:BDRBF) Continues to Gain Momentum and Strength

Many stocks have managed to record significant gains in recent months and one that often flies under the radar is Bombardier,...

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Voyager Digital Ltd (OTCMKTS:VYGVF) Hits All-Time High on Download News

The remarkable rally enjoyed by several crypto assets over the course of the past months has also resulted in an increased demand...

Solar Integrated Roofing Corp (OTCMKTS:SIRC) Surges Higher On Sector Strength

The Solar Integrated Roofing Corp (OTCMKTS:SIRC) stock has come into sharp focus among investors and on Wednesday, the stock made significant gains...

The Patterson-UTI Energy Inc. (PTEN) shares are trading at higher $4.46 and the avg recommendation for the stock is Hold. The current analyst price target stands at $3.10.

To add more color to this target, the company’s high over the last year is $12.39 and the low is $1.61. Over the last 52 weeks, PTEN is down -64.00% while the S&P 500 is up 1.20%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PTEN reported a profit of $-494.41 million. Patterson-UTI Energy Inc. also saw revenues decrease to $445.93 million. In addition, PTEN has free cash flow of $1.36 million as of 03-2020 The company’s EBITDA came in at $87.67 million which compares well with its peers.

PTEN booked profit margins of -37.60%, its Return on Equity (ROE) is -29.10%, and its Return on Assets is -18.40%. All told, it is clear that, PTEN needs to be on your watchlist.

Find out when PTEN reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PTEN has a short ratio of 4.23 and outstanding shares of 190.67M.

Company Outlook

PTEN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 8.17 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -4.28. Patterson-UTI Energy Inc. PTEN also noted assets of $3.87 billion at the end of the last quarter. Investors should also keep an eye on sector updates as PTEN has historically followed its peers on positive news.

All told, Patterson-UTI Energy Inc. PTEN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PTEN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Patterson-UTI Energy Inc. PTEN is now commanding a market cap of 775.91M and a float of 180.96M. PTEN is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PTEN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PTEN, either long or short, and we have not been compensated for this article.

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service