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

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

Other hedge funds have also made changes to their positions in the company. R Squared Ltd bought a new position in National Energy Services Reunited during the 4th quarter valued at $41,000. Tower Research Capital LLC TRC acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at $49,000. National Bank of Canada FI bought a new position in National Energy Services Reunited during the fourth quarter valued at about $74,000. TD Waterhouse Canada Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth about $89,000. Finally, Robotti Robert bought a new stake in National Energy Services Reunited in the fourth quarter worth about $90,000. Institutional investors and hedge funds own 15.55% of the company's stock.

National Energy Services Reunited Price Performance

NASDAQ NESR remained flat at $6.22 on Friday. The company's stock had a trading volume of 100,164 shares, compared to its average volume of 149,893. 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 Corp. has a 12-month low of $5.20 and a 12-month high of $10.00. The company has a market cap of $597.41 million, a price-to-earnings ratio of 7.78 and a beta of 0.42. The company's fifty day moving average price is $6.82 and its 200 day moving average price is $8.20.

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

Analysts Set New Price Targets

NESR has been the topic of several recent research reports. Barclays lifted their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Benchmark began 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 target on the stock.

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.