Patterson-UTI Energy Inc (NASDAQ:PTEN) price on current trading day, fall -0.25% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.66.
A look at the stock’s price movement, the level at last check in today’s session was $7.68, moving within a range at $7.48 and $7.71. The beta value (5-Year monthly) was 2.132. Turning to its 52-week performance, $12.65 and $7.15 were the 52-week high and 52-week low respectively. Overall, PTEN moved -11.13% over the past month.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Patterson-UTI Energy Inc’s market cap currently stands at around $2.99 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 0.32, with its dividend yield at 4.18%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PTEN is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 7 recommend PTEN as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PTEN’s current price about -1.69% and -4.01% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.41, while 7-day volatility ratio is 4.80% and 4.24% in the 30-day chart. Further, Patterson-UTI Energy Inc (PTEN) has a beta value of 2.12, and an average true range (ATR) of 0.33. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $10.5 and high of $16. Looking at the price targets, the low is -37.08% off recent price level in today’s trading while to achieve the yearly target high, it has to move -108.88%. Nonetheless, investors will most likely welcome a -56.66% jump to $12 which is the analysts’ median price.
If we refocus on Patterson-UTI Energy Inc (NASDAQ:PTEN), historical trading data shows that trading volumes averaged 11.52 over the past 10 days and 8.95 million over the past 3 months. The company’s latest data on shares outstanding shows there are 389.94 million shares.
The 9.88% of Patterson-UTI Energy Inc’s shares are in the hands of company insiders while institutional holders own 92.70% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.72 million on 2024-11-29, giving us a short ratio of 3.19. The data shows that as of 2024-11-29 short interest in Patterson-UTI Energy Inc (PTEN) stood at 919.0 of shares outstanding, with shares short falling to 27.33 million registered in 2024-10-31. Current price change has pushed the stock -29.06% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PTEN stock continues to rise going into the next quarter.
