Calamos Advisors LLC Invests $1.67 Million in National Energy Services Reunited $NESR

Calamos Advisors LLC bought a new position in National Energy Services Reunited (NASDAQ:NESR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 77,807 shares of the company’s stock, valued at approximately $1,671,000. Calamos Advisors LLC owned approximately 0.08% of National Energy Services Reunited at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NESR. Millennium Management LLC grew its holdings in National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after acquiring an additional 149,796 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of National Energy Services Reunited during the first quarter valued at about $1,425,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the 1st quarter valued at approximately $48,000. Geode Capital Management LLC increased its position in shares of National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after acquiring an additional 780,180 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the second quarter valued at about $34,000. Institutional investors own 15.55% of the company’s stock.

Insider Buying and Selling

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction 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 transaction, the director owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 5,129,198 shares of company stock valued at $135,731,984 over the last 90 days. Corporate insiders own 9.70% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $28.89 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. The stock has a market capitalization of $2.91 billion, a PE ratio of 44.45, a P/E/G ratio of 0.36 and a beta of 0.31. The firm has a 50 day moving average of $26.05 and a two-hundred day moving average of $22.92. National Energy Services Reunited has a 52 week low of $5.91 and a 52 week high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. The company’s revenue was up 33.5% compared to the same quarter last year. On average, research analysts predict that National Energy Services Reunited will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

NESR has been the subject of several recent research reports. Piper Sandler raised their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Finally, BTIG Research reissued 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. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, National Energy Services Reunited has an average rating of “Buy” and a consensus target price of $29.71.

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.