PATTERSON UTI ENERGY INC stock forecast: up to 12.14 USD PTEN stock price prognosis

STOCK

Forecast for Fri 24 May 2024 price 12.14

PATTERSON UTI ENERGY INC stock price forecast for further price development up to 2.53% (time horizon: 1 day) and price target of 12.14 USD. Short-term (time horizon: 2 weeks) PATTERSON UTI ENERGY INC share price prediction for 2024-05-24 with daily closed price projections

Key Facts

Symbol PTEN 

ISIN US7034811015 

CUSIP 703481101


Currency USD


Category Drilling Oil & Gas Wells

Forecast price change %

Relative Strength Index (RSI)

Finance numbers

Revenue 919,251,000.0


Earnings per share -2.56


Dividends 0.08

On our site we made daily predictions for finance products based on statistical analysis. You can export / download forecasted data as CSV file, no login required. The information can be used for day trading.

Summerized Form 10-K with GPT-2

These forward-looking statements involve risk and uncertainty. We also provide cementing services through the pressure pumping segment. Oil prices averaged $42.45 per barrel in the fourth quarter of 2020. Our active rig count has declined since the fourth quarter of 2018. Our average active rig count for the fourth quarter of 2020 was 62 rigs. Term contracts help support our operating rig count. The pressure pumping market remains oversupplied. On March 27, 2020, we entered into Amendment No. In conjunction with our restructuring, we closed our Canadian drilling operations. Some of these have been in short supply from time to time. Equipment — We generally design, assemble, maintain and inspect our own equipment. Our coverage includes aggregate policy limits and exclusions. We also utilize numerous independent subcontractors from various trades. In addition, some of our customers may self-source certain materials. When caused by human activity, such seismic activity is called induced seismicity. The EPA has not yet finalized this rule. An increasing number of our customers consider sustainability factors in awarding work. If any such effects were to occur, they could have an adverse effect on our operations. The cost of compliance with these laws and regulations could be substantial. Technology Disputes Could Negatively Impact Our Operations or Increase Our Costs. We believe that our existing facilities are suitable and adequate to meet our needs. We are party to various legal proceedings arising in the normal course of our business. All purchases executed to date have been through open market transactions. Purchases may be made at any time without prior notice. Shares of stock purchased under the buyback program are held as treasury shares. There is no expiration date associated with the buyback program. Our pressure pumping business operates primarily in Texas and the Appalachian region. See Note 20 of Notes to Consolidated Financial Statements for additional information. Average margin per total job is defined as margin divided by total jobs. Direct operating costs are also most impacted by these same factors. 38 Restructuring expenses were recognized in 2020 and related to severance costs. Charges associated with that decision totaled $2.2 million in 2019. There were no restructuring charges in the comparable periods of 2019. The net proceeds before offering expenses were approximately $347 million. These shares were acquired at fair market value. The maturity date under the Term Loan Agreement is June 10, 2022. Our credit rating is currently investment grade at one of the two ratings agencies. We were in compliance with these covenants at December 31, 2020. On December 16, 2019, we fully prepaid the Series B Notes. We used a portion of the net proceeds from the offering to prepay our Series B Notes. The 2028 Notes will mature on February 1, 2028. We pay interest on the 2029 Notes on May 15 and November 15 of each year. The 2029 Notes bear interest at a rate of 5.15% per annum. As of December 31, 2020, no amounts had been drawn under the letters of credit. The agreements expire in years 2021 and 2022. 2) Interest to be paid on the 2029 Notes using 5.15% coupon rate. ( We recorded a $48.4 million charge related to this retirement. The remaining components of this equipment are retired. There was no similar charge in 2020 or 2018. The timeframe over which oil prices and activity levels may recover is highly uncertain. All of the

Summerized Form 10-K with GPT-2 https://www.sec.gov/Archives/edgar/data/889900/000156459021005045/0001564590-21-005045.txt
Candlestick patterns

Candlestick patterns can be used as additional information for price prediction. Following list show which pattern applies on latest price information.

  • Meta analyst score 21.70/100
    • Good financial position.
    • Historical view, profit is not growing.
    • Company revenue is not growing faster compared with the industry.
    • Stock price is above book price value.

Institutional ownership list is based on filling form information

Holding name Date Amount
A - BARCLAYS PLC 2023-06-30 198193
A - OSAIC HOLDINGS, INC. 2023-06-30 4911
VOYA INVESTMENT MANAGEMENT LLC 2022-09-30 1109102
Penn Capital Management Company, LLC 2022-09-30 979763
MetLife Investment Management, LLC 2022-12-31 111735

Fund ownership list is based on filling form information

Fund name Date Amount Profile
Pacer Funds Trust 2023-07-31 665 Long
Pacer Funds Trust 2023-07-31 2942684 Long
Delaware Group Equity Funds V 2023-11-30 9696178 Long
Delaware Group Equity Funds V 2023-11-30 3845700 Long
Starboard Investment Trust 2023-11-30 404500 Long

Insider trading for PATTERSON UTI ENERGY INC

CIK Name Date Action T-Test 1day T-Test 7day T-Test 14day T-Test 30day
1546374 Hendricks William Andrew Jr 2023-07-18 SALE Reject Accept Accept Accept
1469527 Wexler Seth David 2023-09-14 SALE Reject Accept Accept Accept
1538623 Holcomb James Michael 2023-09-13 SALE Accept Accept Accept Accept


Bollinger Bollinger Bands for PATTERSON UTI ENERGY INC can provide the information where the market is moving based on price information.


PATTERSON UTI ENERGY INC Short Volume Ratio is shown in the diagram. Short volume sales can be seen as an investor sentiment.



Converting prices to returns PATTERSON UTI ENERGY INC.


On-Balance Volume information for PATTERSON UTI ENERGY INC. On-Balance Volume information can be an indicator for bullish or bearish outcome.



Accumulation / Distribution (A/D) indicator information for PATTERSON UTI ENERGY INC. The indicator identify divergences between price and volume flow.


Aroon Oscillator information for PATTERSON UTI ENERGY INC. The trend-following indicator can show the strengh of a current trend and likelihood that trend can continue.


Average Directional Index (ADX) information for PATTERSON UTI ENERGY INC. The index can be used to identify the strengh of a trend.


Moving Average Convergence Divergence (MACD) for PATTERSON UTI ENERGY INC. The indicator helps to predict trend direction and the momentum of the trend.


Stochastic Oscillator as momentum indicator for PATTERSON UTI ENERGY INC. The indicator is useful for identifying overbought and oversold levels.


Relative Strength Index (RSI) for PATTERSON UTI ENERGY INC. RSI is a momentum oscillator that measures the speed and change of price development. The momentum indicator was created by analyst Welles Wilder. The result compares recent gains and losses over restricted time period. Primary usage of the indicator is to identify overbought or oversold signals. When RSI indicator reaches a value of 70 it could mean that speculators should consider selling, suggests Wilder and Chong. Or vice versa when selling excess at which the RSI Indicators show a value of 30 [ Relative Strength Index for Developing Effective Trading Strategies in Constructing Optimal Portfolio ].


Heikin Ashi trading signals are generated based on the Heikin Ashi candles, which are a type of candlestick that smooths out the price action and can help to identify trends. Heikin Ashi signals can be used to identify both long and short trading opportunities.


The awesome oscillator is a momentum indicator that measures the speed and strength of price movements. It is calculated by subtracting a 34-period simple moving average (SMA) from a 5-period SMA.


The Parabolic SAR indicator is a trend-following indicator that uses a series of dots to indicate when a trend is likely to reverse. The Parabolic SAR is a lagging indicator, meaning that it does not predict reversals, but rather confirms them after they have already occurred.


Moving Average Crossover


52W High 52W Low Market Cap

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PATTERSON UTI ENERGY INC on finviz

Figure below show the stock predictions.
Date Closing price Prediction was updated
2024-05-24 12.14 2024-03-29 09:44
2024-05-22 12.13 2024-03-29 09:43
2024-05-23 12.14 2024-03-29 09:43
2024-05-20 12.12 2024-03-29 09:43
2024-05-21 12.13 2024-03-29 09:43
2024-05-13 12.10 2024-03-29 09:43
2024-05-14 12.10 2024-03-29 09:43
2024-05-06 12.07 2024-03-29 09:43
2024-05-07 12.07 2024-03-29 09:43
2024-04-18 12.01 2024-03-29 09:43
2024-04-19 12.03 2024-03-29 09:43
2024-04-22 12.02 2024-03-29 09:43
2024-04-10 12.01 2024-03-29 09:43
2024-04-03 11.95 2024-03-29 09:43
2024-04-08 11.94 2024-03-29 09:43
2024-04-09 11.97 2024-03-29 09:43
2024-04-23 12.03 2024-03-29 09:43
2024-05-15 12.11 2024-03-29 09:43
2024-04-12 12.00 2024-03-29 09:43
2024-04-01 11.96 2024-03-29 09:43
2024-04-02 11.98 2024-03-29 09:43
2024-04-11 12.00 2024-03-29 09:43
2024-05-16 12.11 2024-03-29 09:43
2024-04-24 12.02 2024-03-29 09:43
2024-04-15 12.00 2024-03-29 09:43
2024-04-16 11.98 2024-03-29 09:43
2024-04-17 11.99 2024-03-29 09:43
2024-04-26 12.03 2024-03-29 09:43
2024-04-04 11.92 2024-03-29 09:43
2024-04-05 11.93 2024-03-29 09:43
2024-04-25 12.03 2024-03-29 09:43
2024-05-09 12.08 2024-03-29 09:43
2024-05-03 12.07 2024-03-29 09:43
2024-05-17 12.12 2024-03-29 09:43
2024-04-29 12.04 2024-03-29 09:43
2024-04-30 12.05 2024-03-29 09:43
2024-05-01 12.06 2024-03-29 09:43
2024-05-02 12.06 2024-03-29 09:43
2024-05-08 12.08 2024-03-29 09:43
2024-05-10 12.09 2024-03-29 09:43

The forecast (dashed curve) of the share price performance is based on historical data. Our forecast model is based on mathematical, statistical methods. The website offers price forecasts and analysis tools for equities and other securities, which are exclusively based on the prices of these securities in the past. Information about these prices is provided to us by third parties. Although we believe, If we believe that our sources are reliable, we cannot guarantee the accuracy, completeness, timeliness and correct sequencing of this information. We do not investigate the issuers of the securities to which our forecasts relate, nor do we consider any financial data or other data of such issuers with the exception of the past prices of the securities. Therefore, our forecasts do not constitute an analysis of other commercial or financial factors or circumstances, that may be relevant for future security price flows. Investments require additional considerations. Our forecasts cannot reflect the specific situation. Experience and risk profile of an individual investor or the tax implications an investment may have for the investor. Although we believe that our mathematical models are a tool to try to explore the possibility for future price development with the help of past performance, such developments are subject to a multitude of different influences. and therefore not really predictable. We cannot guarantee the success of any investment you make based on the information published here. This website is for information purposes only. All information and data on this website cannot be guaranteed to be accurate, accuracy, completeness and appropriateness - neither explicit nor implicit.