Dividend Growth of Patterson-UTI Energy, Inc.(PTEN)

Patterson-UTI Energy(PTEN) is having a Dividend Yield of 0.28% with the Annual cash Dividend per share of $0.16. The last quarter cash dividend per share pay out was $0.02. Patterson-UTI Energy has a 5 year average dividend yield of 1.41% and the stock has a Indicated annual dividend of $0.08. Patterson-UTI Energy(PTEN) formally announced its most recent dividend on February 9, 2017 with a Dividend per share of $0.02. The new indicated annual dividend based on announced dividend per share is $0.08. The dividend yield based on the forward looking indicated annual dividend is 0.28%. The 5 year historical dividend growth of Patterson-UTI Energy(PTEN) is at the rate of -4.57% while the R-Squared dividend growth is 0.01. If the value of R-Square is close to one, it indicates a perfect fit and the higher value conforms to the regression line while data close to zero indicates the opposite.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) witnessed a decline in the market cap on Thursday as its shares dropped 2.77% or 0.79 points. After the session commenced at $28.55, the stock reached the higher end at $28.72 while it hit a low of $27.63. With the volume soaring to 2,746,356 shares, the last trade was called at $27.76. The company has a 52-week high of $29.76. The company has a market cap of $4,617 million and there are 166,334,910 shares in outstanding. The 52-week low of the share price is $13.25. Patterson-UTI Energy, Inc. has dropped 0.29% in the last five trading days, however, the shares have posted positive gains of 0.91% in the last 4 weeks. Patterson-UTI Energy, Inc. is up 17.71% in the last 3-month period. Year-to-Date the stock performance stands at 3.12%.

Currently the company Insiders own 6.1% of Patterson-UTI Energy, Inc. shares according to the proxy statements. Institutional Investors own 98.84% of Patterson-UTI Energy, Inc. shares. Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Patterson-UTI Energy was Upgraded by Guggenheim to Buy on Feb 14, 2017. Patterson-UTI Energy was Downgraded by Cowen on Jan 19, 2017 to Market Perform, Price Target of the shares are set at $26.Patterson-UTI Energy was Initiated by SunTrust to Buy on Jan 18, 2017. Patterson-UTI Energy was Upgraded by Credit Suisse to Neutral on Jan 4, 2017. Patterson-UTI Energy was Downgraded by Goldman to Neutral on Dec 16, 2016.

Patterson-UTI Energy Last issued its quarterly earnings results on Feb 9, 2017. The company reported $-0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.02. Analyst had a consensus of $-0.55. The company had revenue of $246.90 million for the quarter, compared to analysts expectations of $231.45 million. The companys revenue was down -27.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.40 EPS.

Patterson is one of the leading providers of domestic land drilling services to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Companys drilling contract operations, the oil & natural gas operations are no longer material to the Companys overall operations.


Post Comment