SCHEDULE 13G: Pacer Funds Discloses 5.7% Passive Stake in Patterson-UTI Energy

Pacer US Small Cap Cash Cows ETF, along with its advisor Pacer Advisors, Inc. and Joe M. Thomson, has disclosed a 5.7% beneficial ownership stake in Patterson-UTI Energy Inc. as of December 31, 2024.

Summary

• Pacer US Small Cap Cash Cows ETF, Pacer Advisors, Inc., and Joe M. Thomson (collectively, the "Reporting Persons") have filed a Schedule 13G indicating beneficial ownership of common stock in Patterson-UTI Energy Inc.
• The Pacer US Small Cap Cash Cows ETF directly owns 22,096,553 shares of Patterson-UTI Energy Inc. Common Stock.
• Pacer Advisors, Inc., as the investment adviser to the Fund, maintains discretionary investment and voting authority over these 22,096,553 shares.
• Joe M. Thomson, as the majority stockholder of Pacer Advisors, Inc., is deemed a beneficial owner of the shares held by the Fund, in addition to 12 shares over which he has sole voting and dispositive power, bringing his total deemed beneficial ownership to 22,096,565 shares.
• The aggregate amount beneficially owned by each Reporting Person represents 5.7% of Patterson-UTI Energy Inc.'s common stock.
• This percentage is calculated based on 387,344,755 shares of common stock issued and outstanding as of December 31, 2024, as reported by the Issuer.
• The Reporting Persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive. While a Schedule 13G is a routine disclosure, the acquisition of a significant passive stake by an institutional investor like Pacer can be interpreted as a vote of confidence in the company's value, without implying any activist intent.

Positives

• The disclosure of a significant 5.7% stake by an institutional investor like Pacer US Small Cap Cash Cows ETF may signal confidence in Patterson-UTI Energy Inc.'s long-term value proposition.
• The filing explicitly states that the shares are held in the ordinary course of business and not for the purpose of influencing control, indicating a passive, investment-oriented position.

Risks

• The document does not detail specific risks related to Patterson-UTI Energy Inc.'s operations or financial health, as it is a beneficial ownership disclosure.

Future Outlook

The document is a beneficial ownership disclosure (Schedule 13G) and does not contain any forward-looking statements or guidance regarding Patterson-UTI Energy Inc.'s future performance or outlook.

Industry Context

Patterson-UTI Energy Inc. operates within the energy sector, specifically providing drilling and completion services to oil and natural gas operators. The disclosure of a significant passive stake by an ETF focused on 'Cash Cows' suggests that the fund identifies Patterson-UTI as a company with strong cash flow generation within its market capitalization segment.

Stakeholder Impact

• Shareholders: The disclosure of a new significant institutional holder may be viewed positively, potentially increasing investor confidence and liquidity for the stock.
• Company Management: Awareness of a new large passive shareholder, though without immediate implications for control or strategy.

Key Dates

Keywords

Patterson-UTI Energy Inc., Pacer US Small Cap Cash Cows ETF, Pacer Advisors Inc., Joe M. Thomson, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing, Energy Sector