Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in National Energy Services Reunited $NESR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund more than doubled its NESR stake in the first quarter, increasing holdings by 115.6% to 334,823 shares worth approximately $7.2 million. Institutional investors collectively own 15.55% of the company.
• NESR reported a quarterly earnings and revenue beat, with EPS of $0.26 versus the $0.21 estimate and revenue of $404.6 million, up 33.5% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $29.71.
• The stock opened at $24.41 after a 4.5% decline, while insider selling remained notable: a director sold 1.92 million shares for roughly $51.4 million, and insiders sold about $135.7 million of stock over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund boosted its position in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 115.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,823 shares of the company's stock after acquiring an additional 179,498 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.33% of National Energy Services Reunited worth $7,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of National Energy Services Reunited by 373.8% in the 4th 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 purchased a new stake in shares of National Energy Services Reunited during the 2nd quarter worth about $34,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter worth approximately $48,000. Osaic Holdings Inc. acquired a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $73,000. Finally, State of Wyoming purchased a new position in National Energy Services Reunited in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Down 4.5%

NASDAQ NESR opened at $24.41 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a fifty-two week low of $6.24 and a fifty-two week high of $30.31. The business has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $23.72. The stock 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 - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. The business's quarterly revenue was up 33.5% compared to the same quarter last year. As a group, sell-side analysts predict that National Energy Services Reunited will post 1.74 EPS for the current fiscal year.

Analyst Ratings Changes

NESR has been the subject of several research reports. Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. UBS Group raised their target price on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. Piper Sandler upped their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Finally, Barclays increased their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $29.71.

Insiders Place Their Bets

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the sale, the director owned 229,198 shares of the company's stock, valued at $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is currently owned by company insiders.

National Energy Services Reunited Company 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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