Patterson-UTI Energy (PTEN) : 10 brokerage houses believe that Patterson-UTI Energy (PTEN) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Patterson-UTI Energy (PTEN). Zacks Investment Research suggests a Hold with a rank of 3. 2 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 3 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 24 Wall Street Analysts endorse the stock as a Buy with a rating of 2.46.
Patterson-UTI Energy (PTEN) : The highest level Patterson-UTI Energy (PTEN) is projected to reach is $34 for the short term and the lowest estimate is at $12. The consolidated price target from 18 rating analysts who initiate coverage on the stock is $21.67 and the possibility the share price can swing is $4.92.
Company shares have received an average consensus rating of Hold for the current week Patterson-UTI Energy (NASDAQ:PTEN): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $19.69 and $19.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.57, notching a gain of 0.15% for the day. The total traded volume was 3,072,785 . The stock had closed at $19.54 on the previous day.
Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling; Pressure Pumping, and Oil and Natural Gas. The Company markets its contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Companys Pressure Pumping segment provides pressure pumping services to oil and natural gas operators in Texas, Southwest Region and the Appalachian region, Northeast Region. The Companys Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner. The Companys oil and natural gas working interests are located in producing regions of Texas and New Mexico.