12 Best Oil and Gas Dividend Stocks According to Billionaires

8. Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Number of Billionaire Holders: 13

Dividend Yield as of March 28: 3.82%

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries. PTEN is among the best dividend stocks on our list.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) had a tough Q4 2024, as its EPS of -$0.13 missed estimates by $0.03. The company’s revenue of $1.2 billion was also down by 24.1% YoY and fell short of expectations by $50 million. PTEN generated an operating cash flow of $1.2 billion in 2024, and its full-year adjusted free cash flow came in at $523 million. It returned $417 million of it to its shareholders last year, reducing its total share count by more than 6%. The company also paid a cumulative dividend equal to 4% of its current market cap and reduced its net debt, including leases, by almost $100 million. PTEN still had $759 million in remaining share repurchase authorization at the end of 2024, and it declared a quarterly dividend of $0.08 per share in February.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) expects capital expenditures to be about $600 million in 2025 as it continues to strategically invest in technology across all its businesses to build on its competitive advantage. Moreover, it remains committed to returning at least 50% of its adjusted free cash flow to investors through dividends and share repurchases.