Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has been upgraded to Buy in a statement by Bank of America Corp. earlier today.
- Updated: November 30, 2016
Having a price of $26.97, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) traded 17.12% higher on the day. With the last stock price close up 28.84% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time period. The company has recorded a 50-day moving average of $23.36 and a 200-day moving average of $20.87. 6,194,478 shares of PTEN traded hands, up from an average trading volume of 3,283,560
Bank of America Corp. has upgraded Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to Buy in a statement released on Wednesday November 30, 2016.
On Wednesday March 09, 2016, Susquehanna released a statement on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) upped the target price from $17.00 to $20.00 that suggested an upside of 0.12%.
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Patterson-UTI Energy, Inc. has a 52 week low of $10.94 and a one year high of $27.34 The company’s market cap is currently $0.
In addition to Bank of America Corp. reporting its target price, a total of 29 firms have reported on the stock. The consensus target price is $19.52 with 4 firms rating the stock a strong buy, 11 firms rating the stock a buy, 13 firms rating the stock a hold, 5 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Patterson-UTI Energy, Inc. (NASDAQ:PTEN)
Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Company provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Company provides pressure-pumping services to oil and natural gas operators. The Company also invests in oil and natural gas properties. The Company's Contract Drilling segment markets its contract drilling services to oil and natural gas operators. The Company's Pressure Pumping segment provides pressure-pumping services to oil and natural gas operators in Texas and the Appalachian region. The Company's oil and natural gas working interests are located in producing regions of Texas and New Mexico. Pressure pumping services consist of well stimulation, such as hydraulic fracturing.
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