In a filing, Patterson-UTI Energy Inc revealed its Director Drummond Robert Wayne Jr unloaded Company’s shares for reported $0.77 million on Mar 01 ’24. In the deal valued at $11.76 per share,65,344 shares were sold. As a result of this transaction, Drummond Robert Wayne Jr now holds 2,407,895 shares worth roughly $27.31 million.
Then, Drummond Robert Wayne Jr sold 187,916 shares, generating $2,204,255 in total proceeds. Upon selling the shares at $11.73, the Director now owns 2,473,239 shares.
Before that, CEPAK TIFFANY THOM sold 15,000 shares. Patterson-UTI Energy Inc shares valued at $176,700 were divested by the Director at a price of $11.78 per share. As a result of the transaction, CEPAK TIFFANY THOM now holds 107,081 shares, worth roughly $1.21 million.
The Benchmark Company downgraded its Patterson-UTI Energy Inc [PTEN] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in mid December with a ‘”a Neutral”‘ rating. Morgan Stanley also remained covering PTEN and has decreased its forecast on October 17, 2023 with a “an Equal-weight” recommendation from previously “an Overweight” rating. BofA Securities revised its rating on October 16, 2023. It rated PTEN as “a Buy” which previously was an “a Neutral”.
Price Performance Review of PTEN
On Monday, Patterson-UTI Energy Inc [NASDAQ:PTEN] saw its stock fall -1.48% to $11.34. Over the last five days, the stock has lost -1.31%. Patterson-UTI Energy Inc shares have risen nearly 5.00% since the year began. Nevertheless, the stocks have fallen -6.20% over the past one year. While a 52-week high of $16.17 was reached on 04/08/24, a 52-week low of $9.70 was recorded on 01/17/24. SMA at 50 days reached $11.65, while 200 days put it at $12.59. A total of 6.5 million shares were traded, compared to the trading of 4.69 million shares in the previous session.
Levels Of Support And Resistance For PTEN Stock
The 24-hour chart illustrates a support level at 11.14, which if violated will result in even more drops to 10.95. On the upside, there is a resistance level at 11.50. A further resistance level may holdings at 11.67. The Relative Strength Index (RSI) on the 14-day chart is 43.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.06%. Stochastics %K at 16.84% indicates the stock is a buying.
