BlackRock Amends Patterson-UTI Stake (17th Update)
Ticker: PTEN · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 889900
| Field | Detail |
|---|---|
| Company | Patterson Uti Energy INC (PTEN) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock updated its passive stake in Patterson-UTI Energy, signaling a minor portfolio adjustment.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, indicating a change in its ownership stake in Patterson-UTI Energy Inc. as of December 31, 2023. This amendment, the 17th for this holding, shows BlackRock's updated passive investment position in the oil and gas drilling company. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in confidence or strategy regarding Patterson-UTI Energy Inc.'s future performance.
Why It Matters
This filing shows BlackRock's updated passive investment in Patterson-UTI Energy Inc., which can influence market perception and potentially the stock's trading volume.
Risk Assessment
Risk Level: low — This is a routine amendment by a large institutional investor, indicating a passive stake, and doesn't suggest immediate significant risk.
Analyst Insight
Investors should note BlackRock's continued passive interest in Patterson-UTI Energy Inc., but this routine update doesn't warrant immediate action beyond monitoring future filings for significant changes in ownership percentage.
Key Numbers
- 17 — Amendment Number (This is the 17th amendment to BlackRock's Schedule 13G filing for Patterson-UTI Energy Inc.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Patterson-UTI Energy Inc. (company) — the subject company in which BlackRock holds shares
- December 31, 2023 (date) — the date of the event requiring this filing
- January 23, 2024 (date) — the date the SC 13G/A was filed
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' section.
Who is the filer of this SC 13G/A?
The filer of this SC 13G/A is BlackRock Inc., as indicated in the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What is the subject company of this filing?
The subject company is PATTERSON UTI ENERGY INC, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PATTERSON UTI ENERGY INC'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding PATTERSON UTI ENERGY INC (PTEN).