Traders Heavily Sold Down These 10 Stocks on Thursday

3. Patterson-UTI Energy Inc. (NASDAQ:PTEN)

Patterson-UTI saw its share prices drop by 14.79 percent on Thursday to end at $5.59 apiece, in line with the drop in crude oil prices and expectations that the heightening trade war could dampen energy demand.

PTEN is one of the leading oilfield services companies that provides drilling, pressure pumping, and rental equipment, among others, to oil and gas producers.

In recent news, PTEN said it has maintained an average of 106 rigs actively earning revenues under contract in the US.

In its latest earnings release, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) swung to a $51.58 million net loss attributable to shareholders in the last quarter of 2024, a reversal from the $61.95 million net income in the same period a year earlier.

It also dived to a net loss of $968 million last year from a $246.3-million net income in 2023.