AXQ Capital LP Purchases New Stake in National Energy Services Reunited $NESR

AXQ Capital LP purchased a new stake in shares of National Energy Services Reunited (NASDAQ:NESR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,842 shares of the company’s stock, valued at approximately $342,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NESR. Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter worth $34,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth $48,000. Osaic Holdings Inc. bought a new position in National Energy Services Reunited in the 2nd quarter worth $73,000. Clearstead Advisors LLC raised its holdings in National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after purchasing an additional 3,171 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in National Energy Services Reunited by 92.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company’s stock worth $104,000 after purchasing an additional 8,337 shares in the last quarter. 15.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Yousif Mohammed Ali Al-Nowais sold 457,391 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.12, for a total transaction of $11,947,052.92. Following the sale, the director directly owned 3,555,968 shares of the company’s stock, valued at approximately $92,881,884.16. This represents a 11.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,802,428 shares of company stock worth $47,264,488. Corporate insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

NESR has been the subject of several research reports. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. UBS Group upped their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. 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. Finally, BTIG Research increased their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.86.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $25.33 on Friday. National Energy Services Reunited has a one year low of $5.47 and a one year high of $27.25. The company’s 50-day moving average is $24.10 and its 200 day moving average is $20.44. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $370.87 million. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Sell-side analysts expect that National Energy Services Reunited will post 1.64 EPS for the current fiscal year.

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.