In a filing, Patterson-UTI Energy Inc revealed its Director STEWART JAMES CARL unloaded Company’s shares for reported $0.59 million on Dec 18 ’24. In the deal valued at $7.36 per share,80,000 shares were sold. As a result of this transaction, STEWART JAMES CARL now holds 32,438 shares worth roughly $0.28 million.
Then, JCS Partners LP bought 80,000 shares, generating $600,000 in total proceeds.
Before that, Gillard Matthew sold 60,000 shares. Patterson-UTI Energy Inc shares valued at $592,200 were divested by the President-Completions at a price of $9.87 per share. As a result of the transaction, Gillard Matthew now holds 114,692 shares, worth roughly $0.99 million.
Raymond James downgraded its Patterson-UTI Energy Inc [PTEN] rating to a Mkt perform from a a Strong buy in a research note published recently. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in mid December from “a Neutral” to “a Buy”. The Benchmark Company also remained covering PTEN and has decreased its forecast on January 16, 2024 with a “Hold” recommendation from previously “Buy” rating. Goldman started covering the stock on December 19, 2023. It rated PTEN as “a Neutral”.
Price Performance Review of PTEN
On Tuesday, Patterson-UTI Energy Inc [NASDAQ:PTEN] saw its stock unchanged to $8.62. Over the last five days, the stock has gained 6.29%. Patterson-UTI Energy Inc shares have risen nearly 4.36% since the year began. Nevertheless, the stocks have fallen -19.66% over the past one year. While a 52-week high of $12.65 was reached on 01/06/25, a 52-week low of $7.15 was recorded on 01/03/25. SMA at 50 days reached $8.04, while 200 days put it at $9.44.
Levels Of Support And Resistance For PTEN Stock
The 24-hour chart illustrates a support level at 8.50, which if violated will result in even more drops to 8.37. On the upside, there is a resistance level at 8.73. A further resistance level may holdings at 8.83. The Relative Strength Index (RSI) on the 14-day chart is 65.10, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.18%. Stochastics %K at 89.75% indicates the stock is a selling.
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 2024-12-13, growing by 3.72 million shares to a total of 27.94 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 24.23 million shares. There was a rise of 13.31%, which implies that there is a positive sentiment for the stock.
