Shares of Patterson-UTI Energy Inc. (NASDAQ:PTEN) traded today at $10.67, eclipsing its 52-week high. This new high was reached on below average trading volume as 377,000 shares traded hands, while the average 30-day volume is approximately 2.1 million shares.
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.
In the past 52 weeks, shares of Patterson-UTI Energy Inc. have traded between a low of $2.38 and a high of $10.67 and is now at $10.44, which is 339% above that low price.
There is potential upside of 67.3% for shares of Patterson-UTI Energy Inc. based on a current price of $10.44 and an average consensus analyst price target of $17.47.
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