Last $18.68 USD
Change Today +0.84 / 4.68%
Volume 5.3M
PTEN On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

patterson-uti energy inc (PTEN) Snapshot

Open
$17.91
Previous Close
$17.85
Day High
$18.85
Day Low
$17.83
52 Week High
07/24/14 - $38.43
52 Week Low
01/12/15 - $13.30
Market Cap
2.7B
Average Volume 10 Days
5.0M
EPS TTM
$1.82
Shares Outstanding
146.5M
EX-Date
03/9/15
P/E TM
10.3x
Dividend
$0.40
Dividend Yield
2.14%
Current Stock Chart for PATTERSON-UTI ENERGY INC (PTEN)

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patterson-uti energy inc (PTEN) Details

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the United States and Canada. The company operates through three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Contract Drilling segment markets its contract drilling services primarily in Texas, New Mexico, Louisiana, Oklahoma, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, Ohio, West Virginia, and western and northern Canada. As of December 31, 2014, this segment had a drilling fleet of 239 marketable land-based drilling rigs. The Pressure Pumping segment offers pressure pumping services that consist of well stimulation and cementing for the completion of new wells and remedial work on existing wells, as well as hydraulic and nitrogen fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

7,900 Employees
Last Reported Date: 02/12/15
Founded in 1978

patterson-uti energy inc (PTEN) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $600.0K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $350.0K
President of UTI Drilling Company LLC
Total Annual Compensation: $625.7K
Senior Vice President, Director and Member of...
Total Annual Compensation: $265.0K
Compensation as of Fiscal Year 2013.

patterson-uti energy inc (PTEN) Key Developments

Patterson-UTI Energy Inc. Declares Quarterly Dividend, Payable on March 25, 2015

Patterson-UTI Energy Inc. declared a quarterly dividend on its common stock of $0.10 per share, to be paid on March 25, 2015 to holders of record as of March 11, 2015.

Patterson-UTI Energy Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Pretax Non-Cash Impairment Charge for the Fourth Quarter Ended December 31, 2014; Provides Capital Expenditure and Tax Rate Guidance for the Year 2015; Provides Depreciation Expense Guidance for the First Quarter of 2015

Patterson-UTI Energy Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, revenue was $901.219 million against $658.772 million a year ago. Operating income was $106.833 million against $32.102 million a year ago. Income before income taxes was $98.799 million against $26.066 million a year ago. Net income was $57.583 million or $0.39 per basic and diluted share against $16.591 million or $0.11 per diluted share a year ago. Total capital expenditures were $314.551 million against $179.132 million a year ago. Adjusted EBITDA was $286.990 million against $216.131 million a year ago. For the year, revenue was $3,182.291 million against $2,716.034 million a year ago. Operating income was $283.126 million against $322.191 million a year ago. Income before income taxes was $254.283 million against $296.441 million a year ago. Net income was $162.664 million or $1.11 per diluted share against $188.009 million or $1.28 per diluted share a year ago. Total capital expenditures were $1,052.341 million against $662.461 million a year ago. Adjusted EBITDA was $1,001.859 million against $921.351 million a year ago. For the fourth quarter ended December 31, 2014, the results included pretax non-cash impairment charge of $16.8 million related to the impairment of certain oil and natural gas properties. The company provided capital expenditure guidance for the year 2015. The company plans to reduce capex in 2015 approximately by 29% to $750 million. Part of this decrease is achieved by a reduction in new APEX rig manufacturing program from the previously announced plan of 8 rigs per quarter to a total of 16 new APEX rig deliveries planned in 2015, all of which have term contracts. The company is currently projecting effective tax rate to be approximately 36% in 2015. For the first quarter of 2015, depreciation expense is expected to be $172 million.

Patterson-UTI Energy Inc. Reports Drilling Activity for January 2015

Patterson-UTI Energy Inc. reported that for the month of January 2015, the company had an average of 188 drilling rigs operating in the United States and 10 rigs in Canada. Average drilling rigs operating reported in the company's monthly announcements represent the average number of the company's drilling rigs that were operating under a drilling contract. The company cautioned that numerous factors in addition to average drilling rigs operating can impact the company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the company's financial performance. The company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.

 

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Industry Analysis

PTEN

Industry Average

Valuation PTEN Industry Range
Price/Earnings 16.1x
Price/Sales 0.8x
Price/Book 0.9x
Price/Cash Flow 3.3x
TEV/Sales 0.5x
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