530,741 Shares in National Energy Services Reunited $NESR Purchased by Phocas Financial Corp.

Phocas Financial Corp. acquired a new stake in National Energy Services Reunited (NASDAQ:NESR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 530,741 shares of the company’s stock, valued at approximately $8,311,000. National Energy Services Reunited makes up approximately 1.1% of Phocas Financial Corp.’s portfolio, making the stock its 25th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after purchasing an additional 149,796 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of National Energy Services Reunited during the first quarter valued at approximately $1,425,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited in the first quarter valued at approximately $48,000. Geode Capital Management LLC raised its position in National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter worth approximately $34,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

Shares of NESR stock opened at $22.64 on Monday. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The stock has a market cap of $2.28 billion, a PE ratio of 42.72, a PEG ratio of 0.62 and a beta of 0.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The firm’s 50 day moving average price is $21.79 and its two-hundred day moving average price is $16.58.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. The company had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on NESR shares. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 12th. BTIG Research boosted their target price on National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Maxim Group set a $30.00 price target on National Energy Services Reunited in a research note on Monday, January 12th. Bank of America began coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Finally, National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $26.00.

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.