National Energy Services Reunited $NESR Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in shares of National Energy Services Reunited (NASDAQ:NESR) by 102.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,078 shares of the company’s stock after purchasing an additional 33,464 shares during the period. Quantbot Technologies LP’s holdings in National Energy Services Reunited were worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. TD Waterhouse Canada Inc. raised its stake in National Energy Services Reunited by 21.2% in the third quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after buying an additional 2,100 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in National Energy Services Reunited during the 3rd quarter worth about $34,000. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited during the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited during the 2nd quarter worth about $37,000. Finally, Acadian Asset Management LLC purchased a new position in shares of National Energy Services Reunited in the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Trading Down 5.3%

NASDAQ:NESR opened at $20.86 on Friday. The stock’s 50 day moving average price is $20.32 and its 200 day moving average price is $14.90. The company has a market capitalization of $2.01 billion, a PE ratio of 39.36, a P/E/G ratio of 0.57 and a beta of 0.18. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.57%. The company had revenue of $398.26 million for the quarter. The business’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Maxim Group set a $30.00 price target on shares of National Energy Services Reunited in a research note on Monday, January 12th. BTIG Research raised their price objective on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Finally, Barclays upped their target price on shares of National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.00.

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.