Patterson-UTI Energy, Inc. Stock News

Patterson-UTI Energy, Inc. underperformed its peer group in 2024. Rigs and pressure pumping are expected to see modest recoveries in 2025, helping to generate significant free cash flow. The dividend yield is already the best in the peer group, and we expect the large buyback to continue next year.

HOUSTON, TEXAS / ACCESSWIRE / December 5, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of November 2024, the Company had an average of 105 drilling rigs operating in the United States.

Oilfield service company Patterson-UTI's market capitalization is $3.2 billion, and it pays a 3.9% dividend. It took a nearly $1 billion asset write-down in 3Q24. Although the new administration plans to encourage energy production, multi-billion-dollar upstream mergers involving most large public and private companies may condense drilling budgets.

HOUSTON, TX / ACCESSWIRE / November 5, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October 2024, the Company had an average of 105 drilling rigs operating in the United States.

The Q3 commentary suggested a delay in the rebound of U.S. oilfield activity. However, PTEN is actively managing capex and is able to turn out ample cash flow even at the current activity levels. The cash flow funds buybacks and dividends; PTEN basically pays investors to wait until the next catalyst, which will likely be a tightening of the U.S. natural gas market.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q3 2024 Earnings Call October 24, 2024 10:00 AM ET Company Participants Michael Sabella - Investor Relations Andy Hendricks - President and Chief Executive Officer Andy Smith - Chief Financial Officer Conference Call Participants Scott Gruber - Citigroup Stephen Gengaro - Stifel Keith MacKey - RBC Capital Markets Ati Modak - Goldman Sachs Arun Jayaram -...

HOUSTON, TX / ACCESSWIRE / October 23, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended September 30, 2024.

HOUSTON, TX / ACCESSWIRE / October 14, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, October 24, 2024, at 9:00 a.m.