Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Patterson-UTI Energy Inc shares valued at $197,000 were purchased by Hendricks William Andrew JR on Mar 12 ’25. At $7.88 per share, Hendricks William Andrew JR acquired 25,000 shares. The insider’s holdings grew to 2,482,592 shares worth approximately $20.88 million following the completion of this transaction.
Also, STEWART JAMES CARL sold 192,000 shares, netting a total of over 1,422,720 in proceeds. Following the sale of shares at $7.41 each, the insider now holds 1,005,254 shares.
Before that, STEWART JAMES CARL had sold 48,149 shares from its account. In a trade valued at $357,266, the Director traded Patterson-UTI Energy Inc shares for $7.42 each. Upon closing the transaction, the insider’s holdings decreased to 48,149 shares, worth approximately $0.72 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 10.51%. Over the course of the year, Patterson-UTI Energy Inc shares have jumped approximately 1.82%. Shares of the company reached a 52-week high of $9.57 on 01/17/25 and a 52-week low of $7.03 on 03/06/25. A 50-day SMA is recorded $8.38, while a 200-day SMA reached $8.71.
Support And Resistance Levels for Patterson-UTI Energy Inc (PTEN)
According to the 24-hour chart, there is a support level at 8.29, which, if violated, would cause prices to drop to 8.16. In the upper region, resistance lies at 8.50. The next price resistance is at 8.58. RSI (Relative Strength Index) is 56.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.53, which suggests the price will decrease in the coming days. Percent R is at 8.61%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
