We recently published a list of Friday’s 10 Worst Performing Stocks. In this article, we are going to take a look at where Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stands against other Friday’s worst performing stocks.

The stock market suffered a bloodbath anew on Friday as investors digested news of a growing trade war, with China making good on its promise with a steep tariff on US goods.

As of 2:55 PM, the S&P 500 lost 5.47 percent of its value, the tech-heavy Nasdaq fell 5.37 percent, and the Dow Jones was down by 5.09 percent.

Following President Donald Trump’s imposition of hefty tariffs on all imports to the US, China on Friday struck back with a 34-percent tariff on US goods. The tariffs will begin on April 10.

Ten individual stocks mirrored a broader market pessimism, recording steep intra-day losses. In this article, let us explore Friday’s worst intra-day performers and the reasons behind their decline.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

A drilling site in the wilds of nature, highlighting the company's commitment to exploration.

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

Patterson-UTI dropped its share prices for a second day on Friday, losing 19.41 percent at intra-day trading amid the overall market sentiment, with investors shunning news that it maintained a consistent number of drilling rigs in operation.

According to the company, it currently has an average of 106 rigs actively earning revenues under contract in the US.

Despite posting net losses last year, Patterson-UTI Energy, Inc. (NASDAQ:PTEN), an oil and gas drilling services company, still received an optimistic outlook from Zacks Research late last month.

According to the investment firm, the oil and gas company is expected to earn up to $0.04 per share for the second quarter of fiscal year 2026, higher than the $0.02 estimate.

For the full year, however, Zacks expects earnings per share to settle at -$0.10.

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.

Overall, PTEN ranks 1st on our list of Friday’s worst performing stocks. While we acknowledge the potential of PTEN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PTEN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.