Balyasny Asset Management L.P. Invests $20.33 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

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

Other large investors have also made changes to their positions in the company. SCF Partners Inc. bought a new stake in shares of National Energy Services Reunited in the 4th quarter valued at approximately $71,605,000. Iridian Asset Management LLC CT bought a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $1,378,000. JPMorgan Chase & Co. acquired a new position in shares of National Energy Services Reunited in the fourth quarter valued at $394,000. Dodge & Cox acquired a new position in shares of National Energy Services Reunited in the fourth quarter valued at $6,882,000. Finally, Russell Investments Group Ltd. acquired a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $1,791,000. Institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Up 1.7%

Shares of National Energy Services Reunited stock traded up $0.11 during trading hours on Tuesday, reaching $6.60. 81,782 shares of the company's stock were exchanged, compared to its average volume of 150,417. National Energy Services Reunited Corp. has a fifty-two week low of $5.20 and a fifty-two week high of $10.00. The stock has a market cap of $633.90 million, a P/E ratio of 8.25 and a beta of 0.42. The company has a current ratio of 1.10, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average of $6.80 and a two-hundred day moving average of $8.16.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The company had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. On average, sell-side analysts forecast that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NESR shares. Benchmark began coverage on National Energy Services Reunited in a research note on Tuesday, January 21st. They issued a "buy" rating and a $15.00 target price for the company. Barclays upped their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th.

National Energy Services Reunited Company 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.