Patterson-UTI Energy is trading 6.3% down at $9.56 today, moving in tandem with a broader energy-sector selloff as crude oil prices tumble.
- Crude oil prices dropped over 5% following reports of easing US-Iran tensions, which has significantly pressured oil-linked equities and the Energy Select Sector SPDR (XLE).
- There are no fresh company-specific news or filings pointing to an isolated catalyst for the stock's decline.