Encompass Capital Advisors LLC Makes New Investment in National Energy Services Reunited Corp. (NASDAQ:NESR)

Encompass Capital Advisors LLC bought a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,829,032 shares of the company's stock, valued at approximately $79,108,000. National Energy Services Reunited comprises 3.0% of Encompass Capital Advisors LLC's portfolio, making the stock its 5th biggest position. Encompass Capital Advisors LLC owned about 9.25% of National Energy Services Reunited at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SCF Partners Inc. purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at $71,605,000. Balyasny Asset Management L.P. purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at $20,330,000. Diameter Capital Partners LP purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at $8,142,000. ExodusPoint Capital Management LP purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at $7,098,000. Finally, Dodge & Cox purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at $6,882,000. Institutional investors own 15.55% of the company's stock.

Wall Street Analyst Weigh In

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

National Energy Services Reunited Price Performance

Shares of NESR remained flat at $6.22 during midday trading on Friday. 100,164 shares of the stock traded hands, compared to its average volume of 150,388. National Energy Services Reunited Corp. has a 1-year low of $5.20 and a 1-year high of $10.00. The stock has a market capitalization of $597.41 million, a price-to-earnings ratio of 7.78 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's 50-day moving average is $6.82 and its 200 day moving average is $8.18.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced 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 analysts' expectations of $339.84 million. As a group, equities research analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal 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.