SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 7.8% Stake in National Energy Services Reunited Corp
Beneficial Ownership Report
FMR LLC and its affiliate Abigail P. Johnson have filed an amended Schedule 13G, reporting a beneficial ownership of 7.8% of the common stock of National Energy Services Reunited Corp as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 7,461,552 shares of common stock in National Energy Services Reunited Corp.
- This represents 7.8% of the total outstanding common stock of the issuer.
- The filing is an Amendment No. 3 to a Schedule 13G, indicating an update to previous beneficial ownership disclosures.
- FMR LLC holds sole voting and dispositive power over all 7,461,552 shares.
- Abigail P. Johnson, as a Director, Chairman, and CEO of FMR LLC, is also deemed to beneficially own these shares due to her position and the Johnson family's control over FMR LLC.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The document is a standard beneficial ownership filing (Schedule 13G) by a large institutional investor, FMR LLC, and its affiliate Abigail P. Johnson. It reports a significant, passive stake in National Energy Services Reunited Corp. While not directly commenting on the issuer's performance, the maintenance of a substantial stake by a major asset manager is generally viewed as a neutral to slightly positive signal of institutional confidence.
Positives
- A significant institutional investor, FMR LLC, maintains a substantial stake (7.8%) in National Energy Services Reunited Corp, which can signal confidence in the company's prospects.
- The holding is stated to be in the ordinary course of business, suggesting a passive investment rather than an activist stance that might imply dissatisfaction or a desire for significant change.
Future Outlook
This document does not provide any forward-looking statements or guidance regarding the issuer's future performance or operations. It is solely a beneficial ownership disclosure.
Management Comments
- "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."
Industry Context
This filing indicates continued institutional interest in National Energy Services Reunited Corp, a company operating in the energy services sector. The presence of a major asset manager like FMR LLC as a significant shareholder can be viewed positively by the market, suggesting a belief in the long-term prospects of the company within its industry.
Comparison to Industry Standards
- This document does not provide information that allows for a direct comparison of National Energy Services Reunited Corp's operational or financial results to industry standards or specific comparable companies. It solely reports beneficial ownership.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Ownership Structure Disclosure | The filing details that members of the Johnson family, including Abigail P. Johnson, are the predominant owners of Series B voting common shares of FMR LLC, representing 49% of the voting power. They have a shareholders' voting agreement to vote all Series B shares in accordance with the majority vote, which may deem them a controlling group with respect to FMR LLC under the Investment Company Act of 1940. | N/A | This clarifies the internal governance and control structure of FMR LLC, the reporting entity, and how Abigail P. Johnson's beneficial ownership is derived through this structure. It does not directly impact the corporate governance of National Energy Services Reunited Corp. |
Stakeholder Impact
- Shareholders: The disclosure of a significant stake by a major institutional investor like FMR LLC could be interpreted as a vote of confidence, potentially influencing investor sentiment positively.
- Management: Awareness of a large, passive institutional shareholder may influence management's strategic decisions, though the filing explicitly states the holding is not for control purposes.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of FMR LLC. |
| 2023-01-10 | Date of Schedule 13G filing by FMR LLC, accession number -23-000003, where FMR LLC's Power of Attorney was incorporated by reference. |
| 2023-01-26 | Effective date of Power of Attorney for Stephanie J. Brown on behalf of Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC, accession number -23-000038, where Abigail P. Johnson's Power of Attorney was incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-02-11 | Date of filing/signature of this Schedule 13G Amendment No. 3. |
Keywords
National Energy Services Reunited Corp, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Energy Services
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