|Day Low/High||0.00 / 0.00|
|52 Wk Low/High||16.06 / 29.76|
In recent trading, shares of Patterson-UTI Energy Inc. have crossed above the average analyst 12-month target price of $28.12, changing hands for $28.53/share.
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Patterson-UTI Energy Inc. , where a total volume of 16,388 contracts has been traded thus far today, a contract volume which is representative of approximately 1.6 million underlying shares (given that every 1 contract represents 100 underlying shares).
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The company's newly formed pressure-pumping joint venture might result in 1.3 million horsepower of idled hydraulic fracturing equipment one day re-entering an already oversupplied North American market.
Patterson-UTI (PTEN) stock coverage was started at DA Davidson on Thursday.
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