Public Employees Retirement System of Ohio acquired a new position in shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 80,817 shares of the company’s stock, valued at approximately $1,735,000.
Other institutional investors also recently bought and sold shares of the company. Dodge & Cox grew its holdings in National Energy Services Reunited by 5.6% in the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of National Energy Services Reunited in the third quarter valued at $22,722,000. Dimensional Fund Advisors LP raised its stake in shares of National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after buying an additional 997,300 shares during the last quarter. Boston Partners raised its stake in shares of National Energy Services Reunited by 155.6% during the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares in the last quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.
National Energy Services Reunited Price Performance
Shares of NASDAQ:NESR opened at $26.96 on Monday. 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 52-week low of $6.24 and a 52-week high of $30.31. The stock’s fifty day simple moving average is $26.45 and its 200-day simple moving average is $23.85. The company has a market capitalization of $2.72 billion, a P/E ratio of 41.48, a P/E/G ratio of 0.31 and a beta of 0.33.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of National Energy Services Reunited in a research note on Friday, July 10th. Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Barclays increased their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, National Energy Services Reunited currently has an average rating of “Buy” and a consensus price target of $29.71.
Read Our Latest Report on NESR
Insider Transactions at National Energy Services Reunited
In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated 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 directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This trade represents a 89.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 5,129,198 shares of company stock valued at $135,731,984. 9.70% of the stock is currently owned by corporate 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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