Patterson-UTI Energy is trading 4.04% down at $10.22, pressured by a sharp oil-price selloff following the U.S. midterm results and hopes for reduced Iran-war escalation.
- Reuters reported Brent crude had plunged nearly 9% overnight.
- No fresh company-specific announcement appears to explain the move; the broader energy-sector decline points to an industry-driven explanation.
- Third-quarter results were released October 28, not November 5, and reported $1.3 billion in revenue.