HOUSTON - Patterson-UTI (NASDAQ:PTEN) Energy, Inc. (NASDAQ:PTEN), a provider of drilling and completion services, announced it will hold a conference call to discuss its fourth-quarter results on Thursday, February 15, 2024. The discussion will cover the financial and operational performance of the company for the quarter ending December 31, 2023.
Patterson-UTI is known for providing services to the oil and natural gas industries, including contract drilling, integrated well completion, and directional drilling services primarily in the United States. They also offer specialized bit solutions not only domestically but in the Middle East and other global markets.
InvestingPro Insights
As Patterson-UTI Energy (NASDAQ:PTEN) prepares to discuss its fourth-quarter results, investors may find the following data and InvestingPro Tips useful in assessing the company's current market position:
InvestingPro Data shows that Patterson-UTI Energy has a market capitalization of $4.22 billion and a Price to Earnings (P/E) ratio of 8.15, which indicates the stock may be undervalued compared to the industry average. The company's revenue growth was robust at 44.07% for the last twelve months as of Q3 2023, signaling strong business performance. Additionally, the dividend yield as of the date provided stands at 3.17%, reflecting the company's commitment to returning value to shareholders.
InvestingPro Tips suggest that analysts are predicting Patterson-UTI will be profitable this year, with profitability already demonstrated over the last twelve months. However, it's worth noting that 5 analysts have revised their earnings downwards for the upcoming period. Despite this, the company has maintained dividend payments for 20 consecutive years, which could be a sign of financial stability and a shareholder-friendly policy.
InvestingPro subscribers have access to more detailed analysis and additional tips. Currently, there are 7 more tips available, which can be found at https://www.investing.com/pro/PTEN. For those interested in a deeper dive into Patterson-UTI's financials, the InvestingPro subscription is now on a special New Year sale with a discount of up to 50%. Use coupon code "SFY24" to get an additional 10% off a 2-year InvestingPro+ subscription, or "SFY241" to get an additional 10% off a 1-year InvestingPro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.