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

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- The ex-dividend date for Patterson-UTI Energy (Nasdaq: PTEN) is tomorrow, June 12, 2013. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $20.24 as of 9:31 a.m. ET, the dividend yield is 0.9%.

The average volume for Patterson-UTI Energy has been 3.2 million shares per day over the past 30 days. Patterson-UTI Energy has a market cap of $3.1 billion and is part of the basic materials sector and energy industry. Shares are up 13.2% year to date as of the close of trading on Monday.

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 has a P/E ratio of 12.3, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Patterson-UTI Energy as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Patterson-UTI Energy Ratings Report.

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