Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) issued its earnings results on Wednesday. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02, Zacks reports. Patterson-UTI Energy had a net margin of 5.94% and a return on equity of 10.00%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned $0.46 earnings per share.
Patterson-UTI Energy Stock Up 2.6 %
Patterson-UTI Energy stock traded up $0.27 on Thursday, hitting $10.77. 10,299,274 shares of the stock traded hands, compared to its average volume of 6,565,258. The business’s fifty day simple moving average is $11.67 and its 200 day simple moving average is $11.53. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.34 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 1.53 and a beta of 2.23. Patterson-UTI Energy has a 1 year low of $9.70 and a 1 year high of $16.17.
Patterson-UTI Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, February 29th. Patterson-UTI Energy’s dividend payout ratio is currently 31.68%.
Analysts Set New Price Targets
Check Out Our Latest Report on Patterson-UTI Energy
Insider Transactions at Patterson-UTI Energy
In other news, Director Robert Wayne Drummond, Jr. sold 187,916 shares of Patterson-UTI Energy stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $11.73, for a total value of $2,204,254.68. Following the completion of the transaction, the director now owns 2,473,239 shares of the company’s stock, valued at approximately $29,011,093.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.
About Patterson-UTI Energy
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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