NEW YORK ( TheStreet) -- Patterson-UTI Energy (Nasdaq: PTEN) hit a new 52-week low Friday as it is currently trading at $13.63, below its previous 52-week low of $13.66 with 455,281 shares traded as of 10:40 a.m. ET. Average volume has been four million shares over the past 30 days. Patterson-UTI Energy has a market cap of $2.3 billion and is part of the basic materials sector and energy industry. Shares are down 27% year to date as of the close of trading on Thursday. Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas exploration and production companies in the United States and Canada. The company has a P/E ratio of 6.6, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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