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, December 13, 2013. Owners of shares as of market close today will be eligible for a dividend of 5 cents per share. At a price of $23.36 as of 9:50 a.m. ET, the dividend yield is 0.8%.

The average volume for Patterson-UTI Energy has been 2.7 million shares per day over the past 30 days. Patterson-UTI Energy has a market cap of $3.38 billion and is part of the basic materials sector and energy industry. Shares are up 25.9% year to date as of the close of trading on Wednesday.

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 15, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Patterson-UTI Energy Ratings Report.

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