On 11/6/24, Patterson-UTI Energy Inc (NASDAQ: PTEN) stock enjoyed a major increase of 10.5%, closing at $8.50. Moreover, this advance was accompanied by exceptionally high trading volume at 200% of normal. The stock has been extremely weak relative to the market over the last nine months but has risen 9.1% during the last week.
Current PriceTarget Research Rating
PTEN is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Patterson-UTI Energy has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Patterson-UTI Energy has a good Appreciation Score of 85 but a very low Power Rating of 3, and the Negative Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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