In this article we will be analyzing Patterson-UTI Energy, Inc.. We will be looking over the current market data to assess wether or not it is a good investment. To get started, the stock opened this morning at $8.66 and has moved $-0.289999999999999 from yesterday’s closing price of $8.53. The high for today is $8.74 and the low is $8.12. A great indicator of where a stock is trending is by looking at it’s 52-week high/low. This is a technical indicator used by some traders and investors who view these figures as an important factor in the analysis of a stock’s current value and as a predictor of its future price movement. The 52-week high for Patterson-UTI Energy, Inc. is $11.27 and the low is $2.38. The volume (the number of shares traded in a stock or contracts traded in futures or options.) is 1880752. Now that we know where Patterson-UTI Energy, Inc. stands in price and volume, let’s learn more about the future of the company.
Forecast & Beta
As an investor, you can get an idea of where the stock is trending by the forecast and beta. Beta is calculated using regression analysis. A beta of 1 indicates that the security’s price tends to move with the market. A beta greater than 1 indicates that the security’s price tends to be more volatile than the market. A beta of less than 1 means it tends to be less volatile than the market. Patterson-UTI Energy, Inc. has a beta of 3.26748. Knowing all of this, we project that Patterson-UTI Energy, Inc. will have a price of $9.18 in 12-months compared to it’s current price of $8.24 ($-75.16 difference). We can also take a look at the comapany’s marketcap. Marketcap is important because it allows investors to understand the relative size of one company versus another. Market cap measures what a company is worth on the open market, as well as the market’s perception of its prospects, because it reflects what investors are willing to pay for its stock. Patterson-UTI Energy, Inc. has a marketcap of $1741888000.