Overall market sentiment has been neutral on Patterson-UTI Energy, Inc. (PTEN) stock lately. PTEN receives a Neutral rating from InvestorsObserver Stock Sentiment Indicator.
Patterson-UTI Energy, Inc. has a Neutral 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 is trading at $18.10 as of 3:10 PM on Friday, Jun 10, a drop of -$0.64, or -3.39% from the previous closing price of $18.73. The stock has traded between $17.61 and $18.81 so far today. Volume today is light. So far 2,445,207 shares have traded compared to average volume of 3,428,309 shares.
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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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