Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Announces Quarterly Dividend of $0.10

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.10 per share by the oil and gas company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 1st.

Patterson-UTI Energy has increased its dividend payment by an average of 0.3%per year over the last three years. Patterson-UTI Energy has a dividend payout ratio of -800.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Patterson-UTI Energy to earn $0.25 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 160.0%.

Patterson-UTI Energy Stock Up 1.7%

Shares of NASDAQ:PTEN opened at $9.33 on Thursday. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -30.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. The business’s 50-day moving average is $10.41 and its 200-day moving average is $9.90. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $13.08.

Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Wednesday, July 29th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. Equities research analysts predict that Patterson-UTI Energy will post -0.06 earnings per share for the current year.

About Patterson-UTI Energy

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.