Why Is Patterson-UTI (PTEN) Down 11.6% Since Last Earnings Report?

A month has gone by since the last earnings report for Patterson-UTI (PTEN) . Shares have lost about 11.6% in that time frame, underperforming the S&P 500.But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Patterson-UTI due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important drivers.Patterson-UTI Ene ...