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Patterson-UTI Energy Inc. (PTEN) and the Battle of Fundamentals vs. Technicals

Patterson-UTI Energy Inc. (NASDAQ:PTEN) went up by 0.81% from its latest closing price compared to the recent 1-year high of $20.53. The company’s stock price has collected -5.41% of loss in the last five trading sessions.

Is It Worth Investing in Patterson-UTI Energy Inc. (NASDAQ :PTEN) Right Now?

Plus, the 36-month beta value for PTEN is at 2.36.

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PTEN currently public float of 212.38M and currently shorts hold a 5.12% ratio of that float. Today, the average trading volume of PTEN was 2.49M shares.

PTEN’s Market Performance

PTEN stocks went down by -5.41% for the week, with a monthly drop of -2.23% and a quarterly performance of 8.62%, while its annual performance rate touched 72.87%. The volatility ratio for the week stands at 4.72% while the volatility levels for the past 30 days are set at 5.06% for Patterson-UTI Energy Inc. The simple moving average for the period of the last 20 days is -2.53% for PTEN stocks with a simple moving average of 2.15% for the last 200 days.

Analysts’ Opinion of PTEN

Citigroup, on the other hand, stated in their research note that they expect to see PTEN reach a price target of $18. The rating they have provided for PTEN stocks is “Neutral” according to the report published on January 17th, 2023.

PTEN Trading at -4.94% from the 50-Day Moving Average

After a stumble in the market that brought PTEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -20.85% of loss for the given period.

Volatility was left at 5.06%, however, over the last 30 days, the volatility rate increased by 4.72%, as shares surge +1.50% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.42% lower at present.

During the last 5 trading sessions, PTEN fell by -5.41%, which changed the moving average for the period of 200-days by +6.49% in comparison to the 20-day moving average, which settled at $16.68. In addition, Patterson-UTI Energy Inc. saw -3.50% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PTEN starting from Holcomb James Michael, who sale 58,335 shares at the price of $18.65 back on Nov 04. After this action, Holcomb James Michael now owns 273,108 shares of Patterson-UTI Energy Inc., valued at $1,087,948 using the latest closing price.

Holcomb James Michael, the President-Drilling Subsidiary of Patterson-UTI Energy Inc., sale 16,666 shares at $16.01 during a trade that took place back on Oct 26, which means that Holcomb James Michael is holding 331,443 shares at $266,823 based on the most recent closing price.

Stock Fundamentals for PTEN

Equity return is now at value -19.20, with -10.40 for asset returns.

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