Royal Bank of Canada Lowers Stake in National Energy Services Reunited Corp (NASDAQ:NESR)

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Royal Bank of Canada cut its position in shares of National Energy Services Reunited Corp (NASDAQ:NESR) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,621 shares of the company’s stock after selling 1,826 shares during the quarter. Royal Bank of Canada’s holdings in National Energy Services Reunited were worth $84,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of National Energy Services Reunited by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 65,167 shares of the company’s stock worth $595,000 after buying an additional 4,306 shares in the last quarter. Crystal Rock Capital Management boosted its position in shares of National Energy Services Reunited by 1.5% in the first quarter. Crystal Rock Capital Management now owns 515,520 shares of the company’s stock worth $2,619,000 after acquiring an additional 7,500 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in shares of National Energy Services Reunited in the first quarter worth approximately $61,000. Alliancebernstein L.P. boosted its position in shares of National Energy Services Reunited by 115.4% in the first quarter. Alliancebernstein L.P. now owns 22,400 shares of the company’s stock worth $114,000 after acquiring an additional 12,000 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of National Energy Services Reunited by 75.9% in the fourth quarter. UBS Group AG now owns 31,949 shares of the company’s stock worth $291,000 after acquiring an additional 13,781 shares during the last quarter. Institutional investors and hedge funds own 24.91% of the company’s stock.

Several research firms recently issued reports on NESR. TheStreet raised shares of National Energy Services Reunited from a “d” rating to a “c-” rating in a research report on Tuesday, June 2nd. Zacks Investment Research cut shares of National Energy Services Reunited from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of National Energy Services Reunited in a research report on Monday, July 20th. One equities research analyst has rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.00.

Shares of NESR stock opened at $6.69 on Friday. The stock has a market cap of $583.30 million, a price-to-earnings ratio of 8.72 and a beta of 0.85. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. National Energy Services Reunited Corp has a fifty-two week low of $4.04 and a fifty-two week high of $9.53. The firm’s 50 day moving average price is $6.37 and its two-hundred day moving average price is $6.26.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $199.30 million for the quarter, compared to analysts’ expectations of $181.71 million. National Energy Services Reunited had a net margin of 5.32% and a return on equity of 7.31%. On average, equities analysts forecast that National Energy Services Reunited Corp will post 0.43 EPS for the current fiscal year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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Institutional Ownership by Quarter for National Energy Services Reunited (NASDAQ:NESR)

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