Gold prices hit fresh record highs near $3,700/oz ahead of Fed decision
HOUSTON - Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported an average of 94 drilling rigs operating in the United States during August 2025, according to a company press release issued Monday. The company, currently trading at $5.62 per share and offering a 5.64% dividend yield, has maintained dividend payments for 22 consecutive years according to InvestingPro data.
For the two-month period ending August 31, 2025, the company maintained an average of 96 active drilling rigs in the U.S.
The figures represent the average number of drilling rigs that were generating revenue under drilling contracts during the reporting period.
Patterson-UTI cautioned that numerous factors beyond rig count can impact the company’s financial performance, noting that trends in operating rig numbers may not necessarily indicate trends in the company’s overall financial results.
The drilling services provider stated it plans to continue providing monthly updates on operational rig counts shortly after each month ends.
Patterson-UTI describes itself as a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and select other countries. Its services include contract drilling, integrated well completion, directional drilling, and specialized drill bit solutions.
In other recent news, Patterson-UTI Energy Inc. reported its second-quarter financial results, revealing an earnings per share (EPS) loss of $0.13, which was below the forecasted loss of $0.04. However, the company’s revenue exceeded expectations, coming in at $1.22 billion compared to the anticipated $1.20 billion. In July 2025, Patterson-UTI Energy had an average of 98 drilling rigs operating in the United States, as stated in a recent company announcement.
Meanwhile, CFRA downgraded Patterson-UTI Energy’s stock from Hold to Sell, adjusting its price target from $6.50 to $5.50. The downgrade was attributed to concerns over recent slippage in near-term contract coverage and challenges in the energy services sector, particularly in contract drilling and fracking. These developments highlight ongoing pressures from reduced upstream capital spending. These updates provide a snapshot of the company’s current operations and the challenges it faces in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.