Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Patterson-UTI Energy Inc shares valued at $588,800 were sold by STEWART JAMES CARL on Dec 18 ’24. At $7.36 per share, STEWART JAMES CARL sold 80,000 shares. The insider’s holdings dropped to 32,438 shares worth approximately $0.3 million following the completion of this transaction.
Also, JCS Partners LP purchased 80,000 shares, netting a total of over 600,000 in proceeds.
Before that, Gillard Matthew had sold 60,000 shares from its account. In a trade valued at $592,200, the President-Completions traded Patterson-UTI Energy Inc shares for $9.87 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $1.05 million.
As published in a research note from Raymond James on January 06, 2025, Patterson-UTI Energy Inc [PTEN] has been rated down from a Strong buy to a Mkt perform. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid December. As of January 16, 2024, The Benchmark Company has decreased its “Buy” rating to a “Hold” for PTEN. Earlier on December 19, 2023, Goldman initiated its rating. Their recommendation was “a Neutral” for PTEN stock.
Analyzing PTEN Stock Performance
During the last five days, there has been a surge of approximately 2.01%. Over the course of the year, Patterson-UTI Energy Inc shares have jumped approximately 10.53%. Shares of the company reached a 52-week high of $9.57 on 01/17/25 and a 52-week low of $8.38 on 01/03/25. A 50-day SMA is recorded $8.25, while a 200-day SMA reached $9.31. Nevertheless, trading volume fell to 10.69 million shares from 6.66 million shares the previous day.
Support And Resistance Levels for Patterson-UTI Energy Inc (PTEN)
According to the 24-hour chart, there is a support level at 8.91, which, if violated, would cause prices to drop to 8.69. In the upper region, resistance lies at 9.36. The next price resistance is at 9.59. RSI (Relative Strength Index) is 64.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.39, which suggests the price will decrease in the coming days. Percent R is at 30.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
