Patterson-UTI Energy, Inc. (PTEN) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Drilling & Exploration. The stock has been active on the tape, currently trading at $18.69, down from yesterday’s close by -5.61%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.Fundamental Analysis
Patterson-UTI Energy, Inc. (PTEN) currently trades with a market capitalization of $4.24 Billion. That value represents a market adjusting for revenues that have been growing by 165.15 % on a quarterly year/year basis as of the company’s last quarterly report.
You can get a sense of how sustainable that is by a levered free cash flow of -$176.45 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of -$0.04 on a per share basis this quarter. Perhaps, that suggests something about why 2.19% of the outstanding share supply is held by institutional investors.
As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock’s prospects going forward. Looking at the stock’s movement on the chart, Patterson-UTI Energy, Inc. recorded a 52-week high of $25.03. It is now trading 6.34% off that level. The stock is trading $20.54 its 50-day moving average by 1.85%. The stock carved out a 52-week low down at $14.83.
In recent action, Patterson-UTI Energy, Inc. (PTEN) has made a move of -17.37% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.04, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.94% with $217.10 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PTEN.