Diameter Capital Partners LP Invests $8.14 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

Diameter Capital Partners LP bought a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 908,693 shares of the company's stock, valued at approximately $8,142,000. National Energy Services Reunited comprises about 1.2% of Diameter Capital Partners LP's investment portfolio, making the stock its 20th biggest holding. Diameter Capital Partners LP owned approximately 0.95% of National Energy Services Reunited at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $41,000. Tower Research Capital LLC TRC purchased a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $49,000. National Bank of Canada FI bought a new position in National Energy Services Reunited during the 4th quarter valued at about $74,000. TD Waterhouse Canada Inc. purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $89,000. Finally, Robotti Robert purchased a new position in National Energy Services Reunited during the fourth quarter valued at approximately $90,000. 15.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NESR has been the subject of a number of recent research reports. Barclays raised their target price on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, March 13th. Benchmark started coverage on National Energy Services Reunited in a research report on Tuesday, January 21st. They set a "buy" rating and a $15.00 target price on the stock.

National Energy Services Reunited Trading Up 5.4%

NASDAQ:NESR traded up $0.33 during trading hours on Monday, reaching $6.55. 127,569 shares of the stock were exchanged, compared to its average volume of 150,309. National Energy Services Reunited Corp. has a twelve month low of $5.20 and a twelve month high of $10.00. The business has a 50-day moving average of $6.82 and a two-hundred day moving average of $8.18. The company has a market capitalization of $629.49 million, a price-to-earnings ratio of 8.21 and a beta of 0.42. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

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

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.