Patterson-UTI Energy (PTEN) Shares are Up 2.17%

Patterson-UTI Energy (PTEN) has been under a strong bear grip, hence the stock is down -8.35% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.73% in the past 1 week. The stock has risen by 2.17% in the past week indicating that the buyers are active at lower levels, but the stock is down -6.07% in the past 4 weeks.

Patterson-UTI Energy (NASDAQ:PTEN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.24 and $19.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.81, notching a gain of 2.54% for the day. The total traded volume was 2,725,680 . The stock had closed at $19.32 on the previous day.

The stock has recorded a 20-day Moving Average of 2% and the 50-Day Moving Average is 2.2%. Patterson-UTI Energy Inc. is up 11.03% in the last 3-month period. Year-to-Date the stock performance stands at 32.21%.

Patterson-UTI Energy (PTEN) : The highest short term price target forecast on Patterson-UTI Energy (PTEN) is $34 and the lowest target price is $12. A total of 18 equity analysts are currently covering the company. The average price of all the analysts is $21.67 with a standard deviation of $4.92.


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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