NasdaqGS:PTENEnergy Services
Patterson-UTI Energy (PTEN): Assessing Valuation Following Disappointing Quarterly Results and Analyst Downgrades
Patterson-UTI Energy (PTEN) just delivered its latest quarterly update, and the headline is likely to catch investors’ attention as the company posted a wider adjusted net loss than Wall Street had expected. The shortfall mainly came from underperformance in its key units: Drilling Services, Completion Services, and Other Services. With analyst estimates moving lower and a bearish rating now in play, the reaction from the market has been one of caution, especially as investors weigh whether...