Patterson-UTI Energy Inc. (PTEN) Announces Quarterly Dividend of $0.10
Patterson-UTI Energy (NASDAQ:PTEN) declared a quarterly dividend on Friday, February 7th, Analyst Ratings.Net reports. Investors of record on Wednesday, March 12th will be given a dividend of 0.10 per share on Thursday, March 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.05.
Several analysts have recently commented on the stock. Analysts at UBS AG raised their price target on shares of Patterson-UTI Energy from $26.00 to $30.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. On a related note, analysts at Citigroup Inc. raised their price target on shares of Patterson-UTI Energy from $31.00 to $35.00 in a research note to investors on Friday. Finally, analysts at Susquehanna raised their price target on shares of Patterson-UTI Energy from $29.00 to $33.00 in a research note to investors on Friday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $27.26.
Patterson-UTI Energy (NASDAQ:PTEN) traded up 0.97% during mid-day trading on Friday, hitting $28.14. 5,395,664 shares of the company’s stock traded hands. Patterson-UTI Energy has a one year low of $18.83 and a one year high of $28.26. The stock’s 50-day moving average is $25.29 and its 200-day moving average is $22.91. The company has a market cap of $4.015 billion and a P/E ratio of 17.90.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.11. The company had revenue of $659.00 million for the quarter, compared to the consensus estimate of $654.60 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Patterson-UTI Energy will post $1.18 earnings per share for the current fiscal year.
Patterson-UTI Energy, Inc (NASDAQ:PTEN) owns and operates fleets of land-based drilling rigs in the United States.
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