Citigroup Boosts Stake in Patterson-UTI Energy

Institutional investor increases holdings in oil and gas company by 10.3% in Q3

Published on Mar. 2, 2026

Got story updates? Submit your updates here. ›

Citigroup Inc. increased its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 10.3% during the third quarter, according to a recent disclosure with the Securities & Exchange Commission. The institutional investor now owns 1,489,694 shares of the oil and gas company's stock, worth approximately $7.72 million.

Why it matters

This investment by a major financial institution like Citigroup suggests confidence in Patterson-UTI Energy's outlook and potential for growth in the oil and gas industry. The increased stake could signal positive sentiment around the company's performance and future prospects.

The details

Citigroup's increased holdings in Patterson-UTI Energy represent approximately 0.39% of the company's outstanding shares. Other major institutional investors, including Royal Bank of Canada, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., and Goldman Sachs Group Inc., also hold significant positions in the oil and gas firm.

  • Citigroup increased its stake in Patterson-UTI Energy during the 3rd quarter of 2026.

The players

Citigroup Inc.

A major American multinational investment bank and financial services corporation.

Patterson-UTI Energy, Inc.

An American oilfield services company that provides onshore contract drilling and pressure pumping services to exploration and production companies in North America.

Got photos? Submit your photos here. ›

The takeaway

Citigroup's increased investment in Patterson-UTI Energy suggests the financial institution sees growth potential in the oil and gas industry, despite ongoing market volatility. This move could signal a positive outlook for the company's future performance.