CenterBook Partners LP lessened its holdings in shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) by 51.8% in the 4th quarter, HoldingsChannel reports. The firm owned 165,066 shares of the company’s stock after selling 177,372 shares during the quarter. CenterBook Partners LP’s holdings in National Energy Services Reunited were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in National Energy Services Reunited by 4.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after purchasing an additional 772 shares during the period. CWM LLC raised its stake in shares of National Energy Services Reunited by 2.9% during the 4th quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after buying an additional 845 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of National Energy Services Reunited by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 14,901 shares of the company’s stock valued at $233,000 after buying an additional 3,040 shares during the period. Finally, Clearstead Advisors LLC lifted its holdings in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after buying an additional 3,171 shares during the period. 15.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NESR has been the topic of a number of recent research reports. Piper Sandler upped their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. BTIG Research boosted their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. 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. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, UBS Group boosted their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.86.
Insiders Place Their Bets
In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total transaction of $14,992,440.16. Following the transaction, the director directly owned 4,255,856 shares of the company’s stock, valued at $111,248,075.84. This trade represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 1,802,428 shares of company stock worth $47,264,488 in the last ninety days. Corporate insiders own 9.70% of the company’s stock.
National Energy Services Reunited Stock Performance
Shares of NESR stock opened at $24.06 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 12-month low of $5.66 and a 12-month high of $27.25. The business’s 50 day moving average is $24.25 and its two-hundred day moving average is $20.66. The company has a market capitalization of $2.43 billion, a P/E ratio of 37.02, a P/E/G ratio of 0.33 and a beta of 0.35.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping 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 the consensus estimate of $370.87 million. National Energy Services Reunited’s revenue was up 33.5% on a year-over-year basis. 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.
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