Dimensional Fund Advisors LP Boosts Stake in National Energy Services Reunited $NESR

Key Points

• Dimensional Fund Advisors more than doubled its NESR stake in the first quarter, acquiring 997,300 additional shares and bringing its ownership to 1.95%. Institutional investors collectively own 15.55% of the company.
• NESR exceeded quarterly expectations, reporting $0.26 in EPS versus a $0.21 estimate and revenue of $404.59 million, up 33.5% year over year. The stock was trading at $27.78, near its 52-week high of $30.31.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $29.71 price target, although insiders sold more than 5.1 million shares worth approximately $135.7 million over the past three months.

Dimensional Fund Advisors LP lifted its position in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 103.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,960,587 shares of the company's stock after acquiring an additional 997,300 shares during the period. Dimensional Fund Advisors LP owned 1.95% of National Energy Services Reunited worth $42,088,000 as of its most recent SEC filing.

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

National Energy Services Reunited Trading Up 3.0%

National Energy Services Reunited stock opened at $27.78 on Tuesday. National Energy Services Reunited has a 52-week low of $6.24 and a 52-week high of $30.31. The company has a market cap of $2.80 billion, a P/E ratio of 42.74, a P/E/G ratio of 0.31 and a beta of 0.33. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $26.49 and a two-hundred day simple moving average of $23.92.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued 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. The firm had revenue of $404.59 million for the quarter, compared to analysts' expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company's revenue for the quarter was up 33.5% compared to the same quarter last year. Analysts predict that National Energy Services Reunited will post 1.74 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NESR. Wall Street Zen raised shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. UBS Group boosted their price objective on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Weiss Ratings cut shares of National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Barclays raised their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Finally, BTIG Research reiterated a "buy" rating and set a $32.00 target price on shares of National Energy Services Reunited in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $29.71.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares in the company, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 over the last three months. 9.70% of the stock is currently owned by corporate insiders.

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.

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