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 January 17, 2025, PTEN stock price declined to $9.29 with 8,772,608 million shares trading.

PTEN has a market cap of $3.62 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 $7.15.

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

PTEN has underperformed the market in the last year with a return of -2.8%, while SPY returned +28.0%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in PTEN shares. However, PTEN has outperformed the market in the last 3 month and 2 week periods, returning +17.6% and +8.4%, while SPY returned +3.0% and +1.0%, respectively. This indicates PTEN has been having a stronger performance recently.

PTEN support price is $9.20 and resistance is $9.70 (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.