News Recap: Patterson-UTI Energy (NASDAQ:PTEN)

Patterson-UTI Energy (NASDAQ:PTEN) stock identified change of -5.56% away from 52-week low price and recently located move of -89.55% off 52-week high price. It has market worth of $362.17M and dividend yield of 9.41%. PTEN stock has been recorded -67.63% away from 50 day moving average and -80.08% away from 200 day moving average. Moving closer, we can see that shares have been trading -28.47% off 20-day moving average.

On April 3, 2020, Patterson-UTI Energy (NASDAQ:PTEN) disclosed that for the month of March 2020, the Company had an average of 124 drilling rigs operating. For the three months ended March 31, 2020, the Company had an average of 123 drilling rigs operating.

Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were operating under a drilling contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.

The Basic Materials sector company, Patterson-UTI Energy noticed change of -9.57% to $1.7 along volume of 7660538 shares in recent session compared to an average volume of 5.45M. The stock observed return of -26.09% in 5 days trading activity. The stock was at -67.31% over one month performance. PTEN’s shares are at -83.92% for the quarter and driving a -88.23% return over the course of the past year and is now at -83.81% since this point in 2018.

The average volatility for the week at 18.84% and for month was at 23.23%. There are 213.04M shares outstanding and 187.27M shares are floated in market. Right now the stock beta is 2.35.

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