Shares of Patterson-UTI Energy Inc. (NASDAQ:PTEN) traded today at $11.27, eclipsing its 52-week high. Approximately 377,000 shares have changed hands today, as compared to an average 30-day volume of 2 million shares.
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.
Potential upside of 57.5% exists for Patterson-UTI Energy Inc., based on a current level of $11.09 and analysts' average consensus price target of $17.47.
Over the past year, Patterson-UTI Energy Inc. has traded in a range of $2.38 to $11.27 and is now at $11.09, 366% above that low.
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