Patterson-UTI Energy Declares $0.10 Quarterly Dividend
Patterson-UTI Energy, Inc. (NASDAQ: PTEN), an oilfield services provider, declared a quarterly cash dividend of $0.10 per share. The dividend is payable June 15, 2026 to shareholders of record as of June 1, 2026.
Patterson-UTI Energy, Inc. (NASDAQ: PTEN), an oilfield services provider, declared a quarterly cash dividend of $0.10 per share, payable June 15, 2026 to shareholders of record as of June 1, 2026. The announcement came alongside the company's first quarter 2026 financial results on April 22, 2026. Read more dividend announcements.
| Dividend Details | Information |
|---|---|
| Amount | $0.10 per share |
| Record Date | June 1, 2026 |
| Payment Date | June 15, 2026 |
| Frequency | Quarterly |
First Quarter 2026 Financial Performance
The Houston-based company reported total revenue of $1.1 billion for the first quarter of 2026. Patterson-UTI recorded a net loss attributable to common stockholders of $25 million for the period.
Adjusted EBITDA reached $205 million in the first quarter. The company operates through its Drilling Services and Completion Services segments, providing equipment and technology for U.S. land drilling and completion operations.
Management Commentary
Chief Executive Officer Andy Hendricks said the company delivered solid operating results despite a challenging commodity environment early in the year. "We are pleased with our performance given the macro backdrop earlier this year, with customers operating under budgets that were built around much lower oil price assumptions than what we see today," Hendricks stated.
The CEO noted that geopolitical events have significantly increased the commodity strip for the next several years. Patterson-UTI is activating drilling rigs later in the second quarter and anticipates reactivating additional rigs in the second half of 2026.
In the Completion Services segment, the company reported near-full utilization across its active fleet. Management indicated it is discussing price increases with customers to reflect an increasing demand environment.