This 1 Momentum stock could make a great addition for your portfolio
Investors of all ages share the common goal of taking full advantage and investing with confidence.
Zacks Style scores make it easy to reach those goals. This unique set of guidelines rates stocks using popular investing methodologies such as value, growth, momentum and other factors. The Style Scores are a way to narrow down the stocks that will work best in your portfolio, and which stocks will beat the market over time.
Is This 1 Momentum Stock a Screaming Sell Right Now?
Momentum-oriented investors do not follow the same rules as value or growth investors. Instead, they believe “the trend will be your friend.” This style of investing is about taking advantage either of positive or negative trends in stock prices or earnings outlooks. Momentum Style Score uses factors such as one-week price movement and monthly percentage changes in earnings estimates to determine when it is best to buy high-momentum stocks.
Patterson-UTI (PTEN)
Patterson-UTI Energy, Inc., a Houston, Texas-based oilfield services company, was founded in 1978. Patterson-UTI, the current form, was formed in 1978 by a merger between Patterson Energy, Inc., and UTI Energy Corporation. It is the largest offshore contract driller in the United States, and it has a large fleet pressure pumping equipment.
PTEN holds a Zacks Rank 1 (Strong Buy), and boasts a Momentum Style score of A and a VGM Score Score of A. Patterson-UTI shares are showing some interesting price action lately. The stock has increased 1.6% over one week and 7% over four weeks. PTEN has experienced a 68.5% increase in value over the past one year. The stock traded an average of 1,773,891.75 shares over the past 20 days.
Momentum investors pay attention to earnings. PTEN has had three analysts revise their earnings estimates in the last 60-days. Zacks Consensus Expected for 2022 has increased $0.10 – $0.64 per share. PTEN’s average earnings surprise is 169.2%.
PTEN’s solid Zacks Rankings, noteworthy earnings metrics, and impressive Momentum Scores and VGM Style Scores are all reasons why investors should consider PTEN to add to their portfolios.
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PattersonUTI Energy, Inc. (PTEN) : Free Stock Analysis Report