Patterson-UTI (PTEN) loses 9.3% in bearish outlook ahead of second quarter revenue

Recently released These 10 shares fell sharply. Do you have anything? Patterson-Uti Energy, Inc. (NASDAQ: PTEN) is one of the top performers of the week.

Patterson-UTI ended at $5.94 against $6.55 on July 11, as investors sold their positions ahead of second-quarter revenue and bearish outlook from analysts.

Earlier last week, Stifel Nicolaus was Patterson-Uti Energy, Inc. (NASDAQ:PTEN) lowered its price target to $12 from the previous $13, but maintained its “buy” recommendation for the stock.

Meanwhile, Zacks Research posted a more bearish attitude, giving it a “selling” recommendation amid expectations of low revenues, including drilling services and declining completion.

It is a natural wilderness drilling site that highlights the company’s commitment to exploration.

Patterson-UTI Energy, Inc., according to Zacks Research. (NASDAQ: PTEN) is expected to record revenue of $12.1 billion in the second quarter of the year, and is expected to be 10.37% lower than the $1.35 billion, 10.37% lower for the same period due to insufficient drilling services and completion.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) is scheduled to release its second quarter revenue performance results on Thursday, July 24th.

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