The market has been high on Patterson-UTI Energy, Inc. (PTEN) stock recently. PTEN gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.
Patterson-UTI Energy, Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on PTEN!
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
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 has gained 0.67% while the S&P 500 has fallen -1.13% as of 2:17 PM on Tuesday, May 24. PTEN has gained $0.11 from the previous closing price of $17.16 on volume of 1,846,255 shares. Over the past year the S&P 500 has fallen -6.39% while PTEN has gained 105.35%. PTEN lost -$2.80 per share in the over the last 12 months.
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More About Patterson-UTI Energy, Inc.
Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States and maintains moderately sized pressure-pumping operations primarily in Texas and the Appalachian region. It also provides directional drilling services and tool rental services in most U.S. onshore oil and gas basins.
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