Hsbc Holdings PLC Has $1.53 Million Holdings in National Energy Services Reunited $NESR

Hsbc Holdings PLC grew its position in shares of National Energy Services Reunited (NASDAQ:NESR) by 47.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,033 shares of the company’s stock after buying an additional 22,835 shares during the quarter. Hsbc Holdings PLC’s holdings in National Energy Services Reunited were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Citadel Advisors LLC bought a new position in shares of National Energy Services Reunited in the third quarter valued at approximately $22,722,000. Boston Partners grew its position in 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 acquiring an additional 1,189,035 shares during the last quarter. Millennium Management LLC increased its holdings in National Energy Services Reunited by 1,482.3% during the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after purchasing an additional 1,159,372 shares in the last quarter. Geode Capital Management LLC increased its holdings in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after purchasing an additional 780,180 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in National Energy Services Reunited during the 4th quarter valued at $12,208,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NESR. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group raised their target price on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Finally, Piper Sandler upped their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.71.

National Energy Services Reunited Stock Performance

NESR stock opened at $26.87 on Tuesday. The company has a 50 day moving average price of $26.45 and a 200 day moving average price of $23.61. National Energy Services Reunited has a fifty-two week low of $6.24 and a fifty-two week high of $30.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The stock has a market capitalization of $2.71 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 0.32 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm’s revenue was up 33.5% compared to the same quarter last year. Analysts forecast that National Energy Services Reunited will post 1.74 EPS for the current year.

Insider Buying and Selling

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the sale, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,129,198 shares of company stock valued at $135,731,984 in the last three months. 9.70% of the stock is owned by company insiders.

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.