The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Patterson-UTI Energy Inc. (PTEN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.08, or -0.51%, to $15.50. The Patterson-UTI Energy Inc. has recorded 2,432,941 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Patterson-UTI Reports Drilling Activity for August 2023.
The company is listed on the NASDAQ and operates within the Oil & Gas Drilling industry segment. At the end of the last regular session, the stock closed at $15.58 and fluctuated between $15.85 as its day high and $15.19 as its day low. The current market capitalization of Patterson-UTI Energy Inc. is $6.56B. A total of 20.23 million shares were traded on the day, compared to an average of 4.94M shares.
Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, PTEN has seen 0 BUY and 5 SELL insider trades, representing the acquisition of 0 and the disposition of 325,468 shares. Over the last 12 months, there were 18 BUYs and 24 SELLs from insiders. Insiders purchased 2,160,707 shares during that period but sold 1,495,791.
In the most recent transaction, Wexler Seth David sold 37,500 shares of PTEN for 15.98 per share on Sep 14. After the transaction, the SVP/General Counsel/Secretary now owns 340,418 company shares. In a previous transaction on Sep 13, Holcomb James Michael sold 11,816 shares at 15.95 per share. PTEN shares that Chief Business Officer owns now total 376,109.
Among the insiders who sold shares, Holcomb James Michael disposed of 8,802 shares on Jul 25 at a per-share price of $15.47. This resulted in the Chief Operating Officer holding 387,925 shares of PTEN after the transaction. In another insider transaction, Hendricks William Andrew JR sold 200,000 shares at $14.84 per share on Jul 18. Company shares held by the President & CEO now total 1,886,874.
The dividend paying company demonstrates a positive outlook for investors and helps them generate immediate cash. Patterson-UTI Energy Inc. pays an annual dividend of $0.32, resulting in a dividend yield of 2.05%, and it has a price to earnings (P/E) ratio of 9.73. PTEN’s most recent ex-dividend date was 9/6/2023 when it declared a $0.08 quarterly dividend that was paid in cash on 9/21/2023. Previously, the company paid the dividend on 6/15/2023 with an ex-dividend date of 5/31/2023. The PTEN stock dividend was $0.08 per share in cash.
It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for PTEN in the last 3 months, the mean price target is $18.15 with high estimates of $23.00 and low estimates of $14.00. In terms of 52-week highs and lows, PTEN has a high of $19.81 and a low of $9.70.
As of this writing, PTEN has an earnings estimate of $0.3 per share for the current quarter. EPS was calculated based on a consensus of 12 estimates, with a high estimate of $0.39 per share and a lower estimate of $0.25. The company reported an EPS of $0.46 in the last quarter, which was 31.40% higher than expectations of $0.35.
Balance Sheet Annually/Quarterly
An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information. PTEN’s latest balance sheet shows that the firm has $117.52M in Cash & Short Term Investments as of fiscal 2021. There were $877.32M in debt and $435.85M in liabilities at the time. Its Book Value Per Share was $8.28, while its Total Shareholder’s Equity was $1.61B.
There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PTEN is Buy with a score of 4.08.