Patterson-UTI Energy is trading at $10.05 (4.6% down) as recent post-earnings gains fade amid a broader retreat in energy stocks.
- Crude oil prices are under pressure following reports of progress in Iran-US talks and an announced production increase from OPEC+.
- The decline marks a reversal for the stock, which had rallied sharply following its July 30 earnings update but is now being weighed down by sector-wide volatility.