Covestor Ltd Takes $422,000 Position in National Energy Services Reunited $NESR

Covestor Ltd bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,196 shares of the company’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in National Energy Services Reunited during the third quarter worth about $5,543,000. Boston Partners boosted its position in shares of National Energy Services Reunited by 240.0% during the 2nd quarter. Boston Partners now owns 166,945 shares of the company’s stock valued at $1,005,000 after purchasing an additional 117,840 shares in the last quarter. Kazazian Asset Management LLC grew its stake in shares of National Energy Services Reunited by 46.0% in the 2nd quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock worth $504,000 after purchasing an additional 26,350 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of National Energy Services Reunited by 109.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 444,885 shares of the company’s stock worth $2,678,000 after purchasing an additional 232,830 shares during the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of National Energy Services Reunited in the 2nd quarter worth approximately $4,562,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

NASDAQ NESR opened at $19.84 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 0.53 and a beta of 0.23. The company has a 50 day simple moving average of $15.42 and a 200-day simple moving average of $11.42. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $20.36.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The firm had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. Equities research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on NESR shares. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. raised their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. BTIG Research lifted their target price on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. National Bankshares set a $21.00 target price on National Energy Services Reunited in a report on Friday, January 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, National Energy Services Reunited presently has a consensus rating of “Buy” and an average price target of $21.00.

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.