Stock Rating Upgrade
The Value Trend Rating for Patterson-UTI Energy Inc (NASDAQ: PTEN) improved in the last week from D to C reflecting improving fundamentals and high Appreciation Potential. Details supporting this higher rating are included in our next report.
Recent Price Action
Patterson-UTI Energy Inc (NASDAQ: PTEN) stock declined modestly by -1.2% on 11/8/24. The stock closed at $8.30. However, below average trading volume at 68% of normal accompanied the decline. The stock has been extremely weak relative to the market over the last nine months but has risen 8.1% 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 C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Patterson-UTI Energy has a very high Appreciation Score of 86 but a very low Power Rating of 2, leading to the Low Neutral Value Trend Rating.
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