News Spotlight: PATTERSON-UTI ENERGY (NASDAQ:PTEN)
On Friday PATTERSON-UTI ENERGY (NASDAQ:PTEN) stock raised 0% and closed at 8.29. The stock opened the session at $8.33 and touched its highest price point at $8.41. Its recent trading capacity is 3212774 shares versus to its average trading volume of 4256927 shares. The company’s stock’s lowest price point for the session stood at $8.08.PTEN traded as low as $ 7.85 in the past 52 weeks, and shares hit its peak level to $18.24.
On Oct. 4, 2019, PATTERSON-UTI ENERGY (NASDAQ:PTEN) released that for the month of September 2019, the Company had an average of 135 drilling rigs operating. For the three months ended September 30, 2019, the Company had an average of 142 drilling rigs operating.
Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were operating under a drilling contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
Patterson-UTI is a provider of oilfield services and products to oil and natural gas exploration and production companies in North America, including market leading positions in contract drilling, pressure pumping and directional drilling services.
Roy Frigo an avid economist and an expert on global politics and economic pressures that can affect market conditions. He has a Masters Degree in Economics from Westminster University with previous roles including Investment Banking.
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