Patterson-UTI Energy Inc (NASDAQ:PTEN) shares, rose in value, with the stock price down by -2.12% to the previous day’s close as strong demand from buyers drove the stock to $7.14.
Actively observing the price movement in the recent trading, the stock is buoying the session at $7.30. Referring to stock’s 52-week performance, its high was $12.65, and the low was $7.07. On the whole, PTEN has fluctuated by -12.97% over the past month.
With the market capitalization of Patterson-UTI Energy Inc currently standing at about $2.76 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 5.60%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.85B, with a low estimate of 1.14B and a high estimate of 1.21B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.18B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PTEN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of PTEN currently trading nearly -14.54% and -15.14% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.01, while the 7-day volatility ratio is showing 7.69% which for the 30-day chart, stands at 5.45%. Furthermore, Patterson-UTI Energy Inc (PTEN)’s beta value is 1.67, and its average true range (ATR) is 0.44.
A comparison of Patterson-UTI Energy Inc (PTEN) with its peers suggests the former has fared considerably weaker in the market. PTEN showed an intraday change of -2.12% in today’s session so far, and over the past year, it shrunk by -38.56%%.
Data on historical trading for Patterson-UTI Energy Inc (NASDAQ:PTEN) indicates that the trading volumes over the past 3 months, they’ve averaged 9.88 million. According to company’s latest data on outstanding shares, there are 387.34 million shares outstanding.
Nearly 9.86% of Patterson-UTI Energy Inc’s shares belong to company insiders and institutional investors own 97.40% of the company’s shares. The stock has fallen by -13.50% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PTEN stock heading into the next quarter.
