GuruFocus - On June 18, 2024, Matthew Gillard, President-Completions at Patterson-UTI Energy Inc (NASDAQ:PTEN), executed a sale of 60,000 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 114,692 shares of Patterson-UTI Energy Inc.
Patterson-UTI Energy Inc operates in the oilfield services sector, providing onshore drilling and pressure pumping services, directional drilling, rental equipment, and technology to clients in North America. The company's services are critical in the extraction of oil and natural gas.
Over the past year, Matthew Gillard has sold a total of 60,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend within the company, where there have been 13 insider sells and no insider buys over the past year.
Shares of Patterson-UTI Energy Inc were trading at $9.87 on the day of the sale. The company has a market cap of approximately $4.00 billion. The price-earnings ratio stands at 16.07, which is above the industry median of 11.34.
The stock's valuation, according to GF Value, is $21.83, suggesting that with a current price of $9.87, Patterson-UTI Energy Inc has a price-to-GF-Value ratio of 0.45. This indicates that the stock might be a possible value trap, and potential investors should think twice before investing.
The GF Value is calculated considering historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider sale might provide current shareholders and potential investors with insight into how insiders view the stock's current valuation and future prospects.
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.
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