Patterson Uti Energy Stock Market Value
| PTEN Stock | USD 8.46 0.12 1.44% |
| Symbol | Patterson |
Patterson UTI Energy Price To Book Ratio
Is Energy Equipment & Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Patterson UTI. If investors know Patterson will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Patterson UTI listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.93) | Dividend Share 0.32 | Earnings Share (2.20) | Revenue Per Share 14.352 | Quarterly Revenue Growth 0.342 |
The market value of Patterson UTI Energy is measured differently than its book value, which is the value of Patterson that is recorded on the company's balance sheet. Investors also form their own opinion of Patterson UTI's value that differs from its market value or its book value, called intrinsic value, which is Patterson UTI's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Patterson UTI's market value can be influenced by many factors that don't directly affect Patterson UTI's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Patterson UTI's value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson UTI is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson UTI's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Patterson UTI 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Patterson UTI's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Patterson UTI.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Patterson UTI on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Patterson UTI Energy or generate 0.0% return on investment in Patterson UTI over 30 days. Patterson UTI is related to or competes with Nabors Industries, Precision Drilling, Noble Plc, Helmerich, Seadrill, Borr Drilling, and Transocean. Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas... More
Patterson UTI Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Patterson UTI's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Patterson UTI Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 14.1 | |||
| Value At Risk | (4.36) | |||
| Potential Upside | 3.53 |
Patterson UTI Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Patterson UTI's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Patterson UTI's standard deviation. In reality, there are many statistical measures that can use Patterson UTI historical prices to predict the future Patterson UTI's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Patterson UTI's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Patterson UTI Energy Backtested Returns
Patterson UTI Energy maintains Sharpe Ratio (i.e., Efficiency) of -0.0296, which implies the firm had a -0.0296% return per unit of risk over the last 3 months. Patterson UTI Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Patterson UTI's Coefficient Of Variation of (3,476), variance of 7.68, and Risk Adjusted Performance of (0.01) to confirm the risk estimate we provide. The company holds a Beta of 1.77, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Patterson UTI will likely underperform. At this point, Patterson UTI Energy has a negative expected return of -0.0828%. Please make sure to check Patterson UTI's value at risk, daily balance of power, as well as the relationship between the Daily Balance Of Power and price action indicator , to decide if Patterson UTI Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.67 |
Good predictability
Patterson UTI Energy has good predictability. Overlapping area represents the amount of predictability between Patterson UTI time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Patterson UTI Energy price movement. The serial correlation of 0.67 indicates that around 67.0% of current Patterson UTI price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Patterson UTI Energy lagged returns against current returns
Autocorrelation, which is Patterson UTI stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Patterson UTI's stock expected returns. We can calculate the autocorrelation of Patterson UTI returns to help us make a trade decision. For example, suppose you find that Patterson UTI has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Patterson UTI regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Patterson UTI stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Patterson UTI stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Patterson UTI stock over time.
Current vs Lagged Prices |
| Timeline |
Patterson UTI Lagged Returns
When evaluating Patterson UTI's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Patterson UTI stock have on its future price. Patterson UTI autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Patterson UTI autocorrelation shows the relationship between Patterson UTI stock current value and its past values and can show if there is a momentum factor associated with investing in Patterson UTI Energy.
Regressed Prices |
| Timeline |
Pair Trading with Patterson UTI
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Patterson UTI position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Patterson UTI will appreciate offsetting losses from the drop in the long position's value.Moving together with Patterson Stock
The ability to find closely correlated positions to Patterson UTI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patterson UTI when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Patterson UTI - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Patterson UTI Energy to buy it.
The correlation of Patterson UTI is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patterson UTI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson UTI Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Patterson UTI can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Patterson UTI Correlation, Patterson UTI Volatility and Patterson UTI Alpha and Beta module to complement your research on Patterson UTI. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Patterson UTI technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.