Goldman Sachs Downgrades Patterson-UTI Energy (PTEN) to Sell
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Goldman Sachs downgrades Patterson-UTI Energy Inc. (Nasdaq: PTEN) from Neutral to Sell and added the stock to their Conviction Sell List. The firm sees little reason to own PTEN as the stock is already pricing in a recovery despite the challenges that lie ahead.
Patterson-UTI Energy, Inc., together with its subsidiaries, provides onshore contract drilling services to independent oil and natural gas operators in North America.
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