Currently, there are 389.94M common shares owned by the public and among those 351.43M shares have been available to trade.
The company’s stock has a 5-day price change of -6.38% and -10.81% over the past three months. PTEN shares are trading -32.04% year to date (YTD), with the 12-month market performance down to -33.69% lower. It has a 12-month low price of $7.38 and touched a high of $12.65 over the same period. PTEN has an average intraday trading volume of 8.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.82%, -8.86%, and -24.18% respectively.
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Institutional ownership of Patterson-UTI Energy Inc (NASDAQ: PTEN) shares accounts for 92.70% of the company’s 389.94M shares outstanding.
It has a market capitalization of $2.86B and a beta (3y monthly) value of 2.12. The earnings-per-share (ttm) stands at -$2.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.48% over the week and 3.93% over the month.
Earnings per share for the fiscal year are expected to decrease by -91.57%, and -133.03% over the next financial year.
Looking at the support for the PTEN, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on December 13, 2024, with the firm’s price target at $11-$10. Goldman was of a view on December 19, 2023 that the stock is Neutral, while Morgan Stanley gave the stock Equal-Weight rating on October 17, 2023, issuing a price target of $20- $17. BofA Securities on their part issued Buy rating on October 16, 2023.
