National Energy Services Reunited $NESR Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 115.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 334,823 shares of the company’s stock after purchasing an additional 179,498 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in National Energy Services Reunited were worth $7,189,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NESR. Royal Bank of Canada boosted its stake in shares of National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited in the second quarter worth $34,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the first quarter worth $48,000. Osaic Holdings Inc. acquired a new stake in National Energy Services Reunited in the second quarter valued at $73,000. Finally, State of Wyoming acquired a new stake in National Energy Services Reunited in the fourth quarter valued at $76,000. 15.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $32.00 target price on shares of National Energy Services Reunited in a research note on Friday, July 10th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Finally, UBS Group boosted their price objective on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.71.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $24.41 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a 12 month low of $6.24 and a 12 month high of $30.31. The company has a fifty day moving average price of $26.42 and a two-hundred day moving average price of $23.72. The company has a market cap of $2.46 billion, a PE ratio of 37.55, a P/E/G ratio of 0.30 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts expect that National Energy Services Reunited will post 1.74 earnings per share for the current year.

Insider Activity

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 5,129,198 shares of company stock valued at $135,731,984. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited Profile

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.