Stock Rating Downgrade
In the last week the Value Trend Rating for Patterson-UTI Energy Inc (NASDAQ: PTEN) weakened from C to D reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
Patterson-UTI Energy Inc (NASDAQ: PTEN) stock rose modestly by 0.8% on 5/3/24. The stock closed at $10.68. Trading volume in this advance was normal. The stock has been weak relative to the market over the last nine months and has declined -5.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PTEN is expected to continue to be a Value Builder.
Patterson-UTI Energy has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Patterson-UTI Energy has a good Appreciation Score of 84 but a very low Power Rating of 2, triggering the Negative Value Trend Rating.
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