Patterson-UTI Energy Inc (NASDAQ:PTEN) shares, rose in value on Wednesday, March 26, with the stock price up by 0.94% to the previous day’s close as strong demand from buyers drove the stock to $8.57.
Actively observing the price movement in the last trading, the stock closed the session at $8.49, falling within a range of $8.51 and $8.74. The value of beta (5-year monthly) was 2.002. Referring to stock’s 52-week performance, its high was $12.65, and the low was $7.03. On the whole, PTEN has fluctuated by 5.67% over the past month.
With the market capitalization of Patterson-UTI Energy Inc currently standing at about $3.31 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-05. The company’s Forward Dividend Ratio is 0.32, with its dividend yield at 3.73%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 4.86B, with a low estimate of 1.14B and a high estimate of 1.22B. 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 50% Buy while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the price of PTEN currently trading nearly 8.18% and 2.35% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.99, while the 7-day volatility ratio is showing 2.65% which for the 30-day chart, stands at 5.13%. Furthermore, Patterson-UTI Energy Inc (PTEN)’s beta value is 1.63, and its average true range (ATR) is 0.37.
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 0.94% in last session, and over the past year, it shrunk by -26.69%%.
Data on historical trading for Patterson-UTI Energy Inc (NASDAQ:PTEN) indicates that the trading volumes over the past 10 days have averaged 13.73 and over the past 3 months, they’ve averaged 10.53 million. According to company’s latest data on outstanding shares, there are 387.34 million shares outstanding.
Nearly 9.89% of Patterson-UTI Energy Inc’s shares belong to company insiders and institutional investors own 98.11% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 25.21 million shares as on 2025-03-14, resulting in a short ratio of 2.17. According to the data, the short interest in Patterson-UTI Energy Inc (PTEN) stood at 913.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 23.36 million. The stock has risen by 3.75% 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.
