Balyasny Asset Management L.P. Acquires New Holdings in National Energy Services Reunited Corp. (NASDAQ:NESR)

Balyasny Asset Management L.P. bought a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,268,965 shares of the company's stock, valued at approximately $20,330,000. Balyasny Asset Management L.P. owned 2.38% of National Energy Services Reunited as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NESR. SCF Partners Inc. acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth $71,605,000. ExodusPoint Capital Management LP acquired a new stake in shares of National Energy Services Reunited in the 4th quarter valued at about $7,098,000. Dodge & Cox bought a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $6,882,000. Long Focus Capital Management LLC acquired a new position in shares of National Energy Services Reunited during the fourth quarter worth about $4,461,000. Finally, Tejara Capital Ltd bought a new position in shares of National Energy Services Reunited during the fourth quarter worth about $3,600,000. Institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Performance

NESR opened at $6.05 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. The business's 50-day simple moving average is $6.89 and its 200 day simple moving average is $8.24. The firm has a market capitalization of $581.08 million, a PE ratio of 7.56 and a beta of 0.42. National Energy Services Reunited Corp. has a 52-week low of $5.20 and a 52-week high of $10.25.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. As a group, sell-side analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on NESR. Barclays boosted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Benchmark assumed coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a "buy" rating and a $15.00 price objective on the stock.

National Energy Services Reunited Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.

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