Shares of Patterson-UTI Energy (PTEN) Sees Large Outflow of Money

Patterson-UTI Energy (PTEN) : Net money flow in Patterson-UTI Energy (PTEN) was negative ($2.28 million) and the inflow of money on uptick was $3.77 million, whereas, the outflow of money on downticks amounted to $6.04 million on Thursday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.62. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $0.61 million. On the other hand, the total value of block trades done on downticks was $2.83 million. The ratio of uptick to downtick block trades was 0.22. The money flow in block trades was negative ($2.22). Patterson-UTI Energy (PTEN) gained $0.18 cent during the day and reached $20.73, a gain of 0.88% over the previous day.


Patterson-UTI Energy (PTEN) : 18 Wall Street analysts covering Patterson-UTI Energy (PTEN) believe that the average level the stock could reach for the short term is $19.86. The maximum price target given is $26 and the minimum target for short term is around $12, hence the standard deviation is calculated at $3.65. The stock has recorded a 20-day Moving Average of 2.19% and the 50-Day Moving Average is 5.79%.

Patterson-UTI Energy (NASDAQ:PTEN): The stock opened at $20.74 on Thursday but the bulls could not build on the opening and the stock topped out at $21.39 for the day. The stock traded down to $20.10 during the day, due to lack of any buying support eventually closed down at $20.42 with a loss of -0.63% for the day. The stock had closed at $20.55 on the previous day. The total traded volume was 4,266,971 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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