Why I'm Downranking Patterson-UTI To Hold

After two acquisitions last year, (primarily NexTier in a 55% PTEN/45% NexTier combination, as well as technology company Ulterra), oilfield services company Patterson-UTI (NASDAQ: PTEN ) bit the valuation bullet in 3Q24: it took write-downs of nearly $1 billion, reducing its accountingLaura Starks is the founder and CEO of Starks Energy Economics, LLC (since 2007). She has a degree in chemical engineering and an MBA with a concentration in finance which she has used for many years to invest personally and ...