Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.08 per share by the oil and gas company on Monday, June 17th. This represents a $0.32 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, June 3rd.
Patterson-UTI Energy has increased its dividend by an average of 47.4% annually over the last three years.
Patterson-UTI Energy Price Performance
PTEN stock traded up $0.09 during trading on Friday, hitting $10.68. The company had a trading volume of 6,862,023 shares, compared to its average volume of 6,625,637. The business has a 50 day moving average of $11.65 and a 200 day moving average of $11.52. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.49 and a beta of 2.23. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26. Patterson-UTI Energy has a fifty-two week low of $9.70 and a fifty-two week high of $16.17.
Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Patterson-UTI Energy had a net margin of 4.07% and a return on equity of 7.58%. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period last year, the firm posted $0.46 earnings per share. As a group, research analysts predict that Patterson-UTI Energy will post 0.62 earnings per share for the current year.
Insider Activity at Patterson-UTI Energy
In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 187,916 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.73, for a total value of $2,204,254.68. Following the sale, the director now directly owns 2,473,239 shares in the company, valued at approximately $29,011,093.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company's stock.
Wall Street Analyst Weigh In
PTEN has been the subject of several research reports. StockNews.com cut Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, April 2nd. Evercore ISI reduced their target price on shares of Patterson-UTI Energy from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Friday. Royal Bank of Canada cut their price objective on Patterson-UTI Energy from $17.00 to $16.00 and set an "outperform" rating for the company in a research report on Friday, February 16th. Bank of America decreased their target price on Patterson-UTI Energy from $14.50 to $14.00 and set a "buy" rating on the stock in a report on Monday, April 15th. Finally, Susquehanna reaffirmed a "positive" rating and set a $16.00 target price on shares of Patterson-UTI Energy in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.08.
Check Out Our Latest Analysis on Patterson-UTI Energy
About Patterson-UTI Energy
(
Get Free Report)
Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.
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