Investing.com - Patterson-UTI (NASDAQ:PTEN) Energy reported on Thursday fourth quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Patterson-UTI Energy announced earnings per share of $-1.68 on revenue of $466.49M. Analysts polled by Investing.com anticipated EPS of $-0.3524 on revenue of $436.47M.
Patterson-UTI Energy shares are up 29% from the beginning of the year, still down 2.66% from its 52 week high of $11.27 set on June 23, 2021. They are outperforming the Nasdaq which is down 7.38% from the start of the year.
Patterson-UTI Energy follows other major Energy sector earnings this month
Patterson-UTI Energy's report follows an earnings beat by Exxon Mobil on February 1, who reported EPS of $2.05 on revenue of $84.97B, compared to forecasts EPS of $1.94 on revenue of $85.01B.
Chevron had missed expectations on January 28 with fourth quarter EPS of $2.56 on revenue of $48.13B, compared to forecast for EPS of $3.13 on revenue of $45.34B.
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