Patterson-UTI Energy Inc. (PTEN) shares are trading at lower $3.64 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 $11.19 and the low is $1.61. Over the last 52 weeks, PTEN is down -56.97% while the S&P 500 is up 21.65%. 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 $-159.08 million. Patterson-UTI Energy Inc. also saw revenues decrease to $250.38 million. In addition, PTEN has free cash flow of $97.73 million as of 06-2020. The company’s EBITDA came in at $14.22 million which compares well with its peers.
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PTEN booked profit margins of -52.20%, its Return on Equity (ROE) is -35.90%, and its Return on Assets is -22.60%. 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 5.73 and outstanding shares of 186.63M.
PTEN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.28 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -4.84. Patterson-UTI Energy Inc. PTEN also noted assets of $3.62 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 661.53M and a float of 181.84M. 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.