Shares of Patterson-UTI Energy Inc. (NASDAQ:PTEN) traded at a new 52-week high today of $8.00. This new high was reached on below average trading volume as 477,000 shares traded hands, while the average 30-day volume is approximately 2.7 million shares.
Patterson-UTI Energy Inc. has overhead space with shares priced $7.96, or 1.7% below the average consensus analyst price target of $8.09.
Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors. Its fleet consists of about 315 land rigs, which it markets to independents and small producers. The firm also operates a pressure pumping division and owns a small financial interest in oil and gas exploration and production assets in Texas and New Mexico.
Patterson-UTI Energy Inc. share prices have moved between a 52-week high of $8.00 and a 52-week low of $1.61 and are now trading 394% above that low price at $7.96 per share.
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