Director Drummond Robert Wayne Jr has executed a significant stock sale of Patterson-UTI Energy Inc (NASDAQ:PTEN) shares, according to a recent SEC filing. On March 1, 2024, the insider sold a total of 253,260 shares of the company.
Patterson-UTI Energy Inc is a company that operates in the oilfield services sector, providing onshore contract drilling services to exploration and production companies in North America. Patterson-UTI Energy Inc also offers pressure pumping services, directional drilling solutions, and other related services.
Drummond Robert Wayne Jr’s recent transaction reflects a continuation of insider selling patterns over the past year. The insider has sold a cumulative total of 253,260 shares and has not made any share purchases during this period.
The insider transaction history for Patterson-UTI Energy Inc shows a trend of more insider sales than purchases over the past year. There have been no insider buys and 11 insider sells in the last twelve months.
On the valuation front, Patterson-UTI Energy Inc's shares were trading at $11.74 on the day of the insider's recent sale, giving the company a market capitalization of approximately $4.747 billion. The price-earnings ratio stands at 12.24, which is above the industry median of 10.475 but below the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates that Patterson-UTI Energy Inc may be considered a possible value trap, warranting caution from investors. The price-to-GF-Value ratio is 0.52, with the GF Value estimated at $22.42 per share.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor related to past returns and growth, and future business performance estimates provided by Morningstar analysts.
For more detailed information and analysis on insider trades and the company's financials, investors are encouraged to review the full SEC Filing.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
