The Patterson-UTI Energy Inc. (PTEN) shares are trading at lower $3.50 and the avg recommendation for the stock is Hold. while 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 $12.05 and the low is $1.61. Over the last 52 weeks, PTEN is down -70.95% while the S&P 500 is down -0.33%. 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.
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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 4.61 and outstanding shares of 190.67M.
PTEN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 5.93 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 639.28M 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.