Patterson-UTI Energy, Inc. (PTEN) to Issue Quarterly Dividend of $0.10 on December 15th

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.10 per share by the oil and gas company on Tuesday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 1st.

Patterson-UTI Energy has raised its dividend by an average of 0.3% annually over the last three years. Patterson-UTI Energy has a dividend payout ratio of -800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Patterson-UTI Energy to earn $0.31 per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of 129.0%.

Patterson-UTI Energy Stock Up 0.7%

Shares of NASDAQ:PTEN opened at $12.69 on Friday. Patterson-UTI Energy has a fifty-two week low of $5.24 and a fifty-two week high of $13.39. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $11.87 and its 200-day simple moving average is $10.48. The company has a market cap of $4.84 billion, a price-to-earnings ratio of -211.50 and a beta of 0.77.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Patterson-UTI Energy had a negative net margin of 0.52% and a negative return on equity of 0.58%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) earnings per share. As a group, equities research analysts predict that Patterson-UTI Energy will post 0.01 earnings per share for the current year.

Key Patterson-UTI Energy News

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Q3 earnings and revenue beat estimates. Patterson-UTI reported approximately $0.07 in adjusted EPS versus a consensus estimate of $0.04, while revenue reached $1.34 billion, ahead of the $1.31 billion forecast. Revenue increased 14.1% year over year, and earnings improved from a loss in the prior-year quarter. Patterson-UTI Energy earnings report
• Positive Sentiment: Management reportedly raised its outlook. The stronger results and an upgraded forecast may reinforce expectations for continued improvement in drilling and oilfield-services activity. Patterson-UTI Reports Strong Q3 Results, Raises Outlook
• Positive Sentiment: The dividend supports investor appeal. PTEN declared a quarterly dividend of $0.10 per share, or $0.40 annualized, representing a reported yield of roughly 3.2%. The dividend is payable December 15 to shareholders of record December 1. Patterson-UTI dividend announcement
• Neutral Sentiment: Technical momentum is drawing attention. PTEN was identified as a potential breakout stock because of projected earnings growth and its position near a 52-week high. This could attract momentum investors, although the thesis remains dependent on execution and industry conditions. Potential breakout stocks article
• Negative Sentiment: Profitability remains fragile. Despite the quarterly beat, Patterson-UTI continued to report a negative net margin and negative return on equity in the latest results. Investors may therefore view the earnings improvement as encouraging but not yet definitive evidence of durable profitability.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc is an oilfield services company that provides drilling, completion and production-related services to oil and natural gas exploration and production companies. Its operations are primarily focused on onshore oil and gas development in the United States.

The company provides contract land drilling services through a fleet of rigs, as well as directional drilling and related technologies used to guide wellbores. Patterson-UTI also offers pressure pumping and hydraulic fracturing, wireline, well-completion, equipment rental and other services that support the development and maintenance of unconventional wells.

Patterson-UTI expanded its completion-services business through its 2023 merger with NexTier Oilfield Solutions.