Patterson-UTI Energy (PTEN) Shares are Down -3.11%

Patterson-UTI Energy (PTEN) has risen sharply, recording gains of 6.03% in the past 4 weeks. However, the stock has corrected -3.11% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 6.26% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 2.78% and the fifty day Moving Average is 0.82%. Patterson-UTI Energy Inc. is up 10.65% in the last three month period. Year-to-Date the stock performance stands at 37.22%.

Patterson-UTI Energy (PTEN) : 18 investment research analysts covering Patterson-UTI Energy (PTEN) have an average price target of $21.67 for the near short term. The highest target price given by the Brokerage Firm to the stock is $34 and the lowest target is $12 for the short term. Analysts expect the variance to be within $5.05 of the average price.


Patterson-UTI Energy (NASDAQ:PTEN): On Fridays trading session , Opening price of the stock was $20.86 with an intraday high of $21.08. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.28. However, the stock managed to close at $20.56, a loss of 0.92% for the day. On the previous day, the stock had closed at $20.75. The total traded volume of the day was 3,478,383 shares.

Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling; Pressure Pumping, and Oil and Natural Gas. The Company markets its contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Companys Pressure Pumping segment provides pressure pumping services to oil and natural gas operators in Texas, Southwest Region and the Appalachian region, Northeast Region. The Companys Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner. The Companys oil and natural gas working interests are located in producing regions of Texas and New Mexico.

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