How Does Patterson-UTI Energy, Inc. (PTEN) Stack Up Right Now?

Patterson-UTI Energy, Inc. (PTEN) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Drilling & Exploration. The stock has been active on the tape, currently trading at $20.01, up from yesterday’s close by 0.00%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Patterson-UTI Energy, Inc. (PTEN) currently trades with a market capitalization of $4.40 Billion. That value represents a market adjusting for revenues that have been growing by 218.90 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$266.37 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of -$0.09 on a per share basis this quarter. Perhaps, that suggests something about why 2.19% of the outstanding share supply is held by institutional investors.

Technical Analysis

Sometimes, we can understand most about a stock by simply looking at how it has been trading. Looking at the stock’s movement on the chart, Patterson-UTI Energy, Inc. recorded a 52-week high of $25.03. It is now trading 5.02% off that level. The stock is trading $18.91 its 50-day moving average by -1.1%. The stock carved out a 52-week low down at $14.83.

In recent action, Patterson-UTI Energy, Inc. (PTEN) has made a move of +5.59% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 13.41, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 5.47% with $218.22 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PTEN.

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