CenterBook Partners LP lowered its position in shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) by 59.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,915 shares of the company’s stock after selling 131,978 shares during the quarter. CenterBook Partners LP’s holdings in National Energy Services Reunited were worth $2,316,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of NESR. Farther Finance Advisors LLC increased its stake in National Energy Services Reunited by 351.2% in the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of National Energy Services Reunited during the second quarter worth $45,000. USA Financial Formulas boosted its position in shares of National Energy Services Reunited by 63.0% during the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after purchasing an additional 871 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of National Energy Services Reunited by 848.6% during the third quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after buying an additional 649 shares during the period. Institutional investors own 15.55% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on NESR shares. Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. National Bank Financial set a $44.00 price objective on National Energy Services Reunited in a research note on Wednesday, September 30th. Capital One Financial started coverage on National Energy Services Reunited in a report on Wednesday, September 30th. They set an “overweight” rating and a $44.00 target price on the stock. Piper Sandler decreased their target price on National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd. Finally, Barclays decreased their target price on National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.
Read Our Latest Stock Analysis on National Energy Services Reunited
National Energy Services Reunited Stock Performance
Shares of NESR stock opened at $19.96 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The company has a market capitalization of $2.01 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 0.23 and a beta of 0.57. The company’s 50 day moving average price is $26.56 and its two-hundred day moving average price is $25.55. National Energy Services Reunited has a 52 week low of $12.21 and a 52 week high of $36.94.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The company’s revenue was up 59.1% on a year-over-year basis. On average, analysts expect that National Energy Services Reunited will post 1.66 earnings per share for the current fiscal year.
Insider Transactions at National Energy Services Reunited
In related news, CEO Sherif Foda sold 100,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the sale, the chief executive officer directly owned 3,084,643 shares in the company, valued at $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer directly owned 549,763 shares in the company, valued at $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 176,894 shares of company stock valued at $6,221,414 over the last quarter. Corporate insiders own 9.70% of the company’s stock.
National Energy Services Reunited Company Profile
National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.
The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.
Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.
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