PTEN Stock Summary and Trading Ideas (Patterson-Uti Energy | NASDAQ:PTEN)

Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. It also provides directional drilling services and tool rental services in most US onshore oil and gas basins.

Patterson-Uti Energy trades on the NASDAQ stock market under the symbol PTEN.

As of December 16, 2024, PTEN stock price declined to $7.54 with 6,034,590 million shares trading.

PTEN has a beta of 0.76, meaning it tends to be less sensitive to market movements. PTEN has a correlation of 0.06 to the broad based SPY ETF.

PTEN has a market cap of $2.94 billion. This is considered a Mid Cap stock.

Last quarter Patterson-Uti Energy reported $1 billion in Revenue and $.00 earnings per share. This beat revenue expectation by $27 million and missed earnings estimates by -$.03.

In the last 3 years, PTEN traded as high as $20.53 and as low as $7.38.

The top ETF exchange traded funds that PTEN belongs to (by Net Assets): IJR, CALF, VTI, IWM, VB.

PTEN has underperformed the market in the last year with a price return of -28.6% while the SPY ETF gained +30.5%. PTEN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -3.7% and -8.4%, respectively, while the SPY returned +8.3% and +0.7%, respectively.

PTEN support price is $7.51 and resistance is $7.93 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PTEN shares will trade within this expected range on the day.