SCHEDULE 13G/A: BlackRock Discloses 14.4% Passive Stake in Patterson-UTI Energy Inc.
Beneficial Ownership Disclosure
BlackRock, Inc. has filed an amended Schedule 13G, reporting a 14.4% beneficial ownership stake in Patterson-UTI Energy Inc. as of March 31, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 55,550,653 shares of common stock in Patterson-UTI Energy Inc.
- This represents 14.4% of the total outstanding common stock of Patterson-UTI Energy Inc.
- BlackRock holds sole voting power over 54,784,576 shares and sole dispositive power over 55,550,653 shares.
- The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
- One of BlackRock's subsidiaries, iShares Core S&P Small-Cap ETF, holds more than 5% of the total outstanding common stock of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing (Schedule 13G) reporting passive beneficial ownership. It contains factual information about shareholdings and does not convey positive or negative sentiment regarding the issuer's performance or outlook.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Management Comments
- NA
Industry Context
This Schedule 13G filing indicates a significant passive ownership stake by BlackRock, one of the world's largest asset managers, in Patterson-UTI Energy Inc., a company operating in the oil and gas services sector. Such large institutional holdings are common for widely traded public companies and reflect BlackRock's investment strategies across various funds and portfolios, rather than an active attempt to influence the company's control or operations.
Comparison to Industry Standards
- NA
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's passive stake, which can influence market perception and liquidity.
- Company Management: Awareness of a large, passive institutional holder, though BlackRock states it does not seek to influence control.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of previously revoked Power of Attorney. |
| 2025-01-21 | Date of the new Power of Attorney executed by BlackRock, Inc. |
| 2025-03-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-04-30 | Date the Schedule 13G filing was signed by BlackRock, Inc. |
Keywords
Patterson-UTI Energy Inc., BlackRock, Schedule 13G, Common Stock, Beneficial Ownership, Institutional Investor, Energy Sector, Oil and Gas Services, Drilling, Well Completion
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