Patterson-UTI Energy, Inc. (PTEN) to Issue $0.02 Quarterly Dividend
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Shareholders of record on Thursday, September 7th will be given a dividend of 0.02 per share by the oil and gas company on Thursday, September 21st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%.
Patterson-UTI Energy (NASDAQ PTEN) traded down 0.987% on Thursday, hitting $19.555. 3,030,458 shares of the company’s stock were exchanged. The company’s market cap is $3.23 billion. Patterson-UTI Energy has a 12-month low of $17.61 and a 12-month high of $29.76. The company’s 50-day moving average price is $20.12 and its 200-day moving average price is $23.72.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. Patterson-UTI Energy had a negative net margin of 32.74% and a negative return on equity of 13.10%. The business had revenue of $579 million during the quarter, compared to the consensus estimate of $556.47 million. During the same quarter last year, the company earned ($0.58) earnings per share. The business’s quarterly revenue was up 198.5% compared to the same quarter last year. Analysts forecast that Patterson-UTI Energy will post ($1.04) earnings per share for the current year.
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A number of analysts have recently weighed in on PTEN shares. Deutsche Bank AG decreased their price target on shares of Patterson-UTI Energy from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective (down previously from $35.00) on shares of Patterson-UTI Energy in a report on Wednesday, May 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Patterson-UTI Energy in a report on Thursday, April 13th. Zacks Investment Research raised shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, April 27th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Patterson-UTI Energy in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.54.
About Patterson-UTI Energy
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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