Anything related to oil was hard hit today. Here's why the lumps these energy services providers took could linger.
News & Analysis: Patterson-UTI Energy
Big-picture news shook up investors in the energy space, taking companies that provide services to the industry down. There's a lot going on.
Rising oil prices, positive jobs data, and expectations OPEC+ will extend production cuts have investors betting that the worst is over.
Oil prices have rebounded from their lows, but these companies are still likely to underperform.
Oil prices rose and so did shares of energy services companies, as investors hope the worst is over in the oil patch.
Crude oil prices are heading higher today, which was one of several catalysts fueling oil stocks.
Patterson-UTI has been buoyed by rising oil prices, but as investors digest its earnings news, the outlook is clearly still cloudy.
PTEN earnings call for the period ending March 31, 2020.
Investors seem to be overlooking the impact low oil prices are having on oil-field service stocks.
It's another brutal day in the oil market.