Stock Price Trends

Patterson-UTI Energy, Inc. (PTEN)

patterson-uti drilling company llc operates one of the largest and most technologically advanced fleets of land based drilling rigs in north america. operations are primarily in oil and natural gas producing regions of the continental united states, alaska, and western and northern canada. with a $1.8b revenue in 2014, we serve major and independent oil and gas companies to provide a comprehensive drilling solution. this includes apex® drilling rigs and people who are committed to working safely, efficiently and in an environmentally responsible way, all of which makes patterson-uti drilling the perfect choice for your drilling needs. if you are interested in opportunities to join our company, please create your candidate profile at http://www.patenergy.com/drilling/careers/. our careers site provides instructions on how to create your candidate profile and apply to open vacancies and, answers to frequently asked questions and technical support. for candidates without internet acce

Stock Price Trends

Stock price trends estimated using linear regression.

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Key facts

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 17.70% per annum.
  • PTEN price at the close of March 1, 2024 was $11.74 and was inside the primary price channel.
  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 50.49% per annum.
  • PTEN price at the close of March 1, 2024 was higher than the top border of the secondary price channel by $0.34 (3.00%). This indicates a possible reversal in the secondary trend direction.

Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of PTEN price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e


Primary Trend

Start date:
End date:

a =

b =

s =

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × ) – 1
=

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × ) – 1
=

March 2, 2022 calculations

Top border of price channel:

Exp(Y)
= Exp(a + b × X + 2 × s)
= Exp(a + b × + 2 × s)
= Exp( + × + 2 × )
= Exp()
= $

Bottom border of price channel:

Exp(Y)
= Exp(a + b × X – 2 × s)
= Exp(a + b × – 2 × s)
= Exp( + × – 2 × )
= Exp()
= $

March 1, 2024 calculations

Top border of price channel:

Exp(Y)
= Exp(a + b × X + 2 × s)
= Exp(a + b × + 2 × s)
= Exp( + × + 2 × )
= Exp()
= $

Bottom border of price channel:

Exp(Y)
= Exp(a + b × X – 2 × s)
= Exp(a + b × – 2 × s)
= Exp( + × – 2 × )
= Exp()
= $

Description

  • The primary trend is decreasing.
  • The decline rate of the primary trend is 17.70% per annum.
  • PTEN price at the close of March 1, 2024 was $11.74 and was inside the primary price channel.

Secondary Trend

Start date:
End date:

a =

b =

s =

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × ) – 1
=

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × ) – 1
=

July 18, 2023 calculations

Top border of price channel:

Exp(Y)
= Exp(a + b × X + 2 × s)
= Exp(a + b × + 2 × s)
= Exp( + × + 2 × )
= Exp()
= $

Bottom border of price channel:

Exp(Y)
= Exp(a + b × X – 2 × s)
= Exp(a + b × – 2 × s)
= Exp( + × – 2 × )
= Exp()
= $

March 1, 2024 calculations

Top border of price channel:

Exp(Y)
= Exp(a + b × X + 2 × s)
= Exp(a + b × + 2 × s)
= Exp( + × + 2 × )
= Exp()
= $

Bottom border of price channel:

Exp(Y)
= Exp(a + b × X – 2 × s)
= Exp(a + b × – 2 × s)
= Exp( + × – 2 × )
= Exp()
= $

Description

  • The secondary trend is decreasing.
  • The decline rate of the secondary trend is 50.49% per annum.
  • PTEN price at the close of March 1, 2024 was higher than the top border of the secondary price channel by $0.34 (3.00%). This indicates a possible reversal in the secondary trend direction.