Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through two segments, Contract Drilling and Pressure Pumping. The Contract Drilling segment markets its contract drilling services primarily in Texas, southeastern New Mexico, northern Louisiana, Colorado, Wyoming, North Dakota, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada. As of December 31, 2017, this segment had a drilling fleet of 295 marketable land-based drilling rigs. The Pressure Pumping segment offers pressure pumping services that consist of well stimulation and cementing for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, nitrogen, cementing, and acid pumping services in Texas, the Mid-Continent, and the Appalachian region. Patterson-UTI Energy, Inc. also manufactures and sells pipe handling components and related technology to drilling contractors in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.
Industry, Sector and Symbol
Industry Drilling oil & gas wells
Sub-IndustryOil & Gas Drilling
SectorOils/Energy
Phone281-765-7100
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$3.33 billion
Profitability
Miscellaneous
Employees8,000
Next Earnings Date4/25/2019 (Estimated)
OptionableOptionable
Patterson-UTI Energy (NASDAQ:PTEN) Frequently Asked Questions
What is Patterson-UTI Energy's stock symbol?
Patterson-UTI Energy trades on the NASDAQ under the ticker symbol "PTEN."
How often does Patterson-UTI Energy pay dividends? What is the dividend yield for Patterson-UTI Energy?
Patterson-UTI Energy announced a quarterly dividend on Thursday, February 7th. Shareholders of record on Thursday, March 7th will be paid a dividend of $0.04 per share on Thursday, March 21st. This represents a $0.16 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, March 6th. View Patterson-UTI Energy's Dividend History.
How will Patterson-UTI Energy's stock buyback program work?
Patterson-UTI Energy announced that its board has initiated a share repurchase plan on Thursday, February 7th 2019, which permits the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.
How were Patterson-UTI Energy's earnings last quarter?
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) issued its quarterly earnings results on Thursday, February, 7th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The oil and gas company had revenue of $795.90 million for the quarter, compared to analysts' expectations of $797.10 million. Patterson-UTI Energy had a negative return on equity of 1.98% and a negative net margin of 9.66%. Patterson-UTI Energy's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS. View Patterson-UTI Energy's Earnings History.
When is Patterson-UTI Energy's next earnings date?
What price target have analysts set for PTEN?
18 brokerages have issued 1-year price targets for Patterson-UTI Energy's shares. Their forecasts range from $12.00 to $28.00. On average, they anticipate Patterson-UTI Energy's share price to reach $20.7857 in the next year. This suggests a possible upside of 48.7% from the stock's current price. View Analyst Price Targets for Patterson-UTI Energy.
What is the consensus analysts' recommendation for Patterson-UTI Energy?
18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 4 hold ratings and 14 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Patterson-UTI Energy.
Has Patterson-UTI Energy been receiving favorable news coverage?
Media headlines about PTEN stock have trended somewhat positive recently, InfoTrie Sentiment Analysis reports. The research group rates the sentiment of media coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Patterson-UTI Energy earned a news impact score of 1.7 on InfoTrie's scale. They also assigned news coverage about the oil and gas company a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an effect on the company's share price in the next few days.
Are investors shorting Patterson-UTI Energy?
Patterson-UTI Energy saw a increase in short interest during the month of January. As of January 15th, there was short interest totalling 11,001,192 shares, an increase of 44.6% from the December 31st total of 7,610,632 shares. Based on an average daily volume of 4,455,784 shares, the days-to-cover ratio is presently 2.5 days. Currently, 5.2% of the shares of the company are sold short. View Patterson-UTI Energy's Current Options Chain.
Who are some of Patterson-UTI Energy's key competitors?
Some companies that are related to Patterson-UTI Energy include Helmerich & Payne (HP), Transocean (RIG), Ocean Rig UDW (ORIG), Ensco (ESV), Rowan Companies (RDC), Diamond Offshore Drilling (DO), Nabors Industries (NBR), Baytex Energy (BTE), Noble (NE), Precision Drilling (PDS), Oasis Midstream Partners (OMP), Independence Contract Drilling (ICD), Pioneer Energy Services (PES), Seadrill Partners (SDLP) and Key Energy Services (KEG).
What other stocks do shareholders of Patterson-UTI Energy own?
Who are Patterson-UTI Energy's key executives?
Patterson-UTI Energy's management team includes the folowing people:
- Mr. Mark Steven Siegel, Exec. Chairman (Age 68)
- Mr. William Andrew Hendricks Jr., Pres, CEO & Director (Age 54)
- Mr. C. Andrew Smith, Exec. VP & CFO (Age 48)
- Mr. Kenneth N. Berns, Exec. VP & Chief Commercial Officer (Age 59)
- Mr. James Michael Holcomb, Pres of UTI Drilling Company LLC (Age 56)
Who are Patterson-UTI Energy's major shareholders?
Patterson-UTI Energy's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (9.56%), Dimensional Fund Advisors LP (4.41%), Van ECK Associates Corp (4.13%), Macquarie Group Ltd. (2.94%), Prudential PLC (2.49%) and Massachusetts Financial Services Co. MA (2.35%). Company insiders that own Patterson-UTI Energy stock include Curtis W Huff, Terry H Hunt and Tiffany J Thom. View Institutional Ownership Trends for Patterson-UTI Energy.
Which major investors are selling Patterson-UTI Energy stock?
PTEN stock was sold by a variety of institutional investors in the last quarter, including New York State Common Retirement Fund, Jennison Associates LLC, Oppenheimer Asset Management Inc., Gateway Investment Advisers LLC, Royce & Associates LP, Energy Opportunities Capital Management LLC, Viking Fund Management LLC and Keeley Teton Advisors LLC. View Insider Buying and Selling for Patterson-UTI Energy.
Which major investors are buying Patterson-UTI Energy stock?
PTEN stock was purchased by a variety of institutional investors in the last quarter, including Millennium Management LLC, Macquarie Group Ltd., Dimensional Fund Advisors LP, Massachusetts Financial Services Co. MA, Scout Investments Inc., Oregon Public Employees Retirement Fund, Thrivent Financial for Lutherans and Two Sigma Investments LP. View Insider Buying and Selling for Patterson-UTI Energy.
How do I buy shares of Patterson-UTI Energy?
Shares of PTEN can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Patterson-UTI Energy's stock price today?
One share of PTEN stock can currently be purchased for approximately $13.98.
How big of a company is Patterson-UTI Energy?
Patterson-UTI Energy has a market capitalization of $2.99 billion and generates $3.33 billion in revenue each year. The oil and gas company earns $-321,420,000.00 in net income (profit) each year or ($0.34) on an earnings per share basis. Patterson-UTI Energy employs 8,000 workers across the globe.
What is Patterson-UTI Energy's official website?
How can I contact Patterson-UTI Energy?
Patterson-UTI Energy's mailing address is 10713 WEST SAM HOUSTON PARKWAY NORTH SUITE 800, HOUSTON TX, 77064. The oil and gas company can be reached via phone at 281-765-7100 or via email at [email protected]
MarketBeat Community Rating for Patterson-UTI Energy (NASDAQ PTEN)
MarketBeat's community ratings are surveys of what our community members think about Patterson-UTI Energy and other stocks. Vote "Outperform" if you believe PTEN will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PTEN will underperform the S&P 500 over the long term. You may vote once every thirty days.
