In a filing, Patterson-UTI Energy Inc revealed its President-Completions Gillard Matthew unloaded Company’s shares for reported $0.59 million on Jun 18 ’24. In the deal valued at $9.87 per share,60,000 shares were sold. As a result of this transaction, Gillard Matthew now holds 114,692 shares worth roughly $0.95 million.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Then, Drummond Robert Wayne Jr sold 150,000 shares, generating $1,732,500 in total proceeds. Upon selling the shares at $11.55, the Director now owns 2,007,895 shares.
Before that, Drummond Robert Wayne Jr sold 187,916 shares. Patterson-UTI Energy Inc shares valued at $2,204,255 were divested by the Director at a price of $11.73 per share. As a result of the transaction, Drummond Robert Wayne Jr now holds 2,473,239 shares, worth roughly $20.5 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 Friday, Patterson-UTI Energy Inc [NASDAQ:PTEN] saw its stock jump 2.73% to $8.29. Over the last five days, the stock has lost -2.24%. Patterson-UTI Energy Inc shares have fallen nearly -23.24% since the year began. Nevertheless, the stocks have fallen -38.64% over the past one year. While a 52-week high of $14.26 was reached on 04/08/24, a 52-week low of $7.45 was recorded on 09/26/24. SMA at 50 days reached $8.54, while 200 days put it at $10.32.
Levels Of Support And Resistance For PTEN Stock
The 24-hour chart illustrates a support level at 8.06, which if violated will result in even more drops to 7.84. On the upside, there is a resistance level at 8.43. A further resistance level may holdings at 8.56. The Relative Strength Index (RSI) on the 14-day chart is 50.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.24%. Stochastics %K at 53.57% indicates the stock is a holding.
How much short interest is there in Patterson-UTI Energy Inc?
A steep rise in short interest was recorded in Patterson-UTI Energy Inc stocks on 2024-09-30, growing by 3.66 million shares to a total of 29.77 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 26.11 million shares. There was a rise of 12.31%, which implies that there is a positive sentiment for the stock.
