This Oil-Field Services Stock Got Slammed Twice by Q4 2019 Earnings
Nobody should be surprised that onshore drilling-rig operator Patterson-UTI Energy (NASDAQ: PTEN) turned in poor results for Q4 2019 on Feb. 6. The entire oil-field services industry had a rough quarter, and many companies have seen their share prices tumble after releasing their numbers. The stock market was particularly hard on Patterson, sending shares down 16.4% in the wake of its earnings miss.
But that's not the worst of it: Patterson's stock actually got hit twice this earnings season!
Patterson-UTI Energy's rig count slipped again in Q4, resulting in further underperformance. Image source: Getty Images.
Source Fool.com
