Patterson-UTI Energy Stock To Go Ex-dividend Tomorrow (PTEN)

NEW YORK ( TheStreet) -- The ex-dividend date for Patterson-UTI Energy (Nasdaq: PTEN) is tomorrow, June 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $14.46 as of 9:55 a.m. ET, the dividend yield is 1.3%.

The average volume for Patterson-UTI Energy has been 3.8 million shares per day over the past 30 days. Patterson-UTI Energy has a market cap of $2.33 billion and is part of the basic materials sector and energy industry. Shares are down 24.3% year to date as of the close of trading on Monday.

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas exploration and production companies in the United States and Canada. The company has a P/E ratio of 6.7, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Patterson-UTI Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Patterson-UTI Energy Ratings Report.

See our dividend calendar or top-yielding stocks list.
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