Fisher Asset Management Trims Stake in Patterson-UTI Energy

The investment firm reduced its holdings in the oil and gas company by 3% in the third quarter.

Published on Mar. 4, 2026

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Fisher Asset Management LLC trimmed its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 3.0% in the third quarter, according to the company's recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,566,801 shares of the oil and gas company's stock worth $23,656,000 as of the filing.

Why it matters

Patterson-UTI Energy is a major player in the oil and gas industry, providing contract drilling and pressure pumping services. Changes in ownership by large institutional investors like Fisher Asset Management can signal shifts in market sentiment and future performance expectations for the company.

The details

Fisher Asset Management sold 142,814 shares of Patterson-UTI Energy during the third quarter, reducing its total stake to approximately 1.20% of the company's outstanding shares. Several other major institutional investors, including American Century Companies Inc. and Sourcerock Group LLC, have also adjusted their positions in Patterson-UTI Energy in recent quarters.

  • Fisher Asset Management filed its 13F report for the third quarter of 2026.

The players

Fisher Asset Management LLC

An investment management firm that oversees a portfolio of over $200 billion in assets.

Patterson-UTI Energy, Inc.

A leading provider of onshore contract drilling and pressure pumping services to exploration and production companies in North America.

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The takeaway

The reduction in Fisher Asset Management's stake in Patterson-UTI Energy suggests the investment firm may have a more cautious outlook on the oil and gas industry in the near term, though the company remains a significant shareholder. Investors will likely watch for any further changes in ownership by major institutional investors as an indicator of broader market sentiment around Patterson-UTI Energy's prospects.