Patterson-UTI Energy, Inc.s in-depth stock price analysis indicates that the stock price has rallied 15.68% in the past 12 Weeks , but analyzing the 6 month charts for the stock , the price continues to stay positive and keep the rally at 35.65% . Looking at the past 52 week period, the stock price is up at 112.41% . Relative price strength is a important factor used by wealth management firms while investing in stocks because the indicator compares the stock performance with the overall market. The relative price strength of Patterson-UTI Energy, Inc. has a positive value of 52.78 compared to overall market. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has tumbled 1.34% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.31% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.14%. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has underperformed the index by 0.51% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) : On Friday heightened volatility was witnessed in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) which led to swings in the share price. The stock opened for trading at $28.81 and hit $29.25 on the upside , eventually ending the session at $27.89, with a gain of 0.18% or 0.05 points. The heightened volatility saw the trading volume jump to 3,633,927 shares. The 52-week high of the share price is $29.555 and the company has a market cap of $4,132 million. The 52-week low of the share price is at $11.805 .
Patterson-UTI Energy Last issued its quarterly earnings results on Feb 9, 2017. The company reported $-0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.02. Analyst had a consensus of $-0.55. The company had revenue of $246.90 million for the quarter, compared to analysts expectations of $231.45 million. The companys revenue was down -27.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.40 EPS.
Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Patterson-UTI Energy was Downgraded by Cowen on Jan 19, 2017 to Market Perform, Price Target of the shares are set at $26.Patterson-UTI Energy was Initiated by SunTrust to Buy on Jan 18, 2017. Patterson-UTI Energy was Upgraded by Credit Suisse to Neutral on Jan 4, 2017. Patterson-UTI Energy was Downgraded by Goldman to Neutral on Dec 16, 2016. Patterson-UTI Energy was Upgraded by JP Morgan to Neutral on Dec 7, 2016.
Patterson is one of the leading providers of domestic land drilling services to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Companys drilling contract operations, the oil & natural gas operations are no longer material to the Companys overall operations.