Patterson-UTI Energy Inc’s recently made public that 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 $0.89 million.
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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 $19.09 million.
Goldman upgraded its Patterson-UTI Energy Inc [PTEN] rating to a Buy from a a Neutral in a research note published on December 13, 2024; the price target was decreased to $10 from $11. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Hold”. Goldman began covering PTEN with “Neutral” recommendation on December 19, 2023. Morgan Stanley revised its rating on October 17, 2023. It rated PTEN as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of PTEN
On Friday, Patterson-UTI Energy Inc [NASDAQ:PTEN] saw its stock jump 1.31% to $7.72. Over the last five days, the stock has gained 3.07%. Patterson-UTI Energy Inc shares have fallen nearly -28.52% since the year began. Nevertheless, the stocks have fallen -29.88% over the past one year. While a 52-week high of $12.65 was reached on 04/08/24, a 52-week low of $7.38 was recorded on 11/01/24. SMA at 50 days reached $8.10, while 200 days put it at $9.72.
Levels Of Support And Resistance For PTEN Stock
The 24-hour chart illustrates a support level at 7.61, which if violated will result in even more drops to 7.49. On the upside, there is a resistance level at 7.81. A further resistance level may holdings at 7.89. The Relative Strength Index (RSI) on the 14-day chart is 42.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.33%. Stochastics %K at 20.44% 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 2024-11-29, dropping by -1.61 million shares to a total of 25.72 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 27.33 million shares. There was a decline of -6.24%, which implies that there is a negative sentiment for the stock.
