Patterson-UTI Energy, Inc. Announces Quarterly Dividend of $0.02 (PTEN)
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced a quarterly dividend on Thursday, February 8th, RTT News reports. Investors of record on Thursday, March 8th will be given a dividend of 0.02 per share by the oil and gas company on Thursday, March 22nd. This represents a $0.08 annualized dividend and a yield of 0.43%.
Patterson-UTI Energy (NASDAQ PTEN) traded down $0.13 on Friday, reaching $18.58. The company had a trading volume of 1,171,141 shares, compared to its average volume of 3,768,164. The company has a market cap of $4,855.96, a P/E ratio of -12.07 and a beta of 1.02. Patterson-UTI Energy has a twelve month low of $14.83 and a twelve month high of $29.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The firm had revenue of $787.33 million during the quarter, compared to the consensus estimate of $764.84 million. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%. The business’s revenue for the quarter was up 218.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.53) earnings per share. sell-side analysts predict that Patterson-UTI Energy will post -0.82 EPS for the current year.
A number of research firms have recently weighed in on PTEN. Cowen reiterated a “hold” rating and set a $23.00 target price (down from $30.00) on shares of Patterson-UTI Energy in a research report on Friday. Citigroup cut their target price on Patterson-UTI Energy from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Group reiterated a “buy” rating and set a $25.00 target price on shares of Patterson-UTI Energy in a research report on Friday. Howard Weil upgraded Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Finally, Piper Jaffray Companies set a $24.00 target price on Patterson-UTI Energy and gave the company a “buy” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.79.
Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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