Patterson-UTI Energy, Inc. (PTEN) stock is higher by 13.62% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With PTEN Stock Today?
Patterson-UTI Energy, Inc. (PTEN) stock is trading at $7.09 as of 10:05 AM on Thursday, Apr 29, a gain of $0.28, or 4.11% from the previous closing price of $6.81. The stock has traded between $6.93 and $7.29 so far today. Volume today is less active than usual. So far 414,282 shares have traded compared to average volume of 1,914,541 shares.
To see the top 5 stocks in the Oil & Gas Drilling industry click here.
More About Patterson-UTI Energy, Inc.
Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors, and it also maintains moderately sized operations in pressure pumping and other business lines. Patterson was greatly boosted in size following its 2017 acquisition of Seventy Seven Energy.
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