Patterson-UTI Energy Declares $0.10 Quarterly Dividend
Patterson-UTI Energy, Inc. (NASDAQ: PTEN), a provider of contract drilling and pressure pumping services, 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), a provider of contract drilling and pressure pumping services to oil and gas operators, 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. Read more dividend announcements.
The Houston-based company announced the dividend alongside its first quarter 2026 financial results on April 22, 2026.
| Dividend Details | |
|---|---|
| Amount | $0.10 per share |
| Record Date | June 1, 2026 |
| Payment Date | June 15, 2026 |
| Frequency | Quarterly |
First Quarter 2026 Financial Results
Patterson-UTI reported total revenue of $1.1 billion for the quarter ended March 31, 2026. The company posted a net loss attributable to common stockholders of $25 million for the period.
Adjusted EBITDA for the first quarter totaled $205 million.
Chief Executive Officer Andy Hendricks said the company delivered solid operating results despite a challenging commodity environment. He noted that customers operated under budgets built around lower oil price assumptions than current levels.
Hendricks said geopolitical events have significantly increased the commodity strip for the next several years. In the Drilling Services segment, the company is activating drilling rigs later in the second quarter and anticipates reactivating additional rigs in the second half of 2026.
The company's Completion Services segment is operating near full utilization across its active fleet. Patterson-UTI is discussing price increases with customers to reflect increasing demand coupled with higher costs.