NEW YORK (

TheStreet

) --

Patterson-UTI Energy

(Nasdaq:

PTEN

) hit a new 52-week high Monday as it traded at $28.51 compared with its previous 52-Week high of $28.47. Patterson-UTI Energy is changing hands at $28.39 with 183,808 shares traded as of 10:06 a.m. ET. Average volume has been 3.3 million shares over the past 30 days.

Patterson-UTI Energy has a market cap of $4.2 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 31.5% year to date as of the close of trading on Friday.

Patterson-UTI Energy, Inc. provides onshore contract drilling services to independent oil and natural gas operators in North America. The company has a P/E ratio of 36.1, below the average energy industry P/E ratio of 36.6 and above the S&P 500 P/E ratio of 16.2.

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TheStreet Ratings rates Patterson-UTI Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full

Patterson-UTI Energy Ratings Report

.

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