Ameriprise Financial Inc. Makes New $1.16 Million Investment in National Energy Services Reunited Corp. (NASDAQ:NESR)

Ameriprise Financial Inc. bought a new position in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 129,600 shares of the company's stock, valued at approximately $1,162,000. Ameriprise Financial Inc. owned approximately 0.14% of National Energy Services Reunited as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SCF Partners Inc. purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $71,605,000. Barclays PLC bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $430,000. Iridian Asset Management LLC CT bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $1,378,000. JPMorgan Chase & Co. bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $394,000. Finally, Dodge & Cox bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $6,882,000. Institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Stock Down 1.2%

Shares of NASDAQ:NESR traded down $0.07 during trading hours on Thursday, hitting $5.54. The company's stock had a trading volume of 1,001,394 shares, compared to its average volume of 182,589. National Energy Services Reunited Corp. has a 52 week low of $5.20 and a 52 week high of $9.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The company has a market capitalization of $534.35 million, a price-to-earnings ratio of 6.93 and a beta of 0.42. The firm's fifty day moving average price is $6.23 and its 200 day moving average price is $7.83.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $303.10 million for the quarter, compared to analyst estimates of $304.68 million. As a group, research analysts expect that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Analysts Set New Price Targets

Separately, Barclays increased their price target on shares of 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 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.