Boston Partners Takes $361,000 Position in National Energy Services Reunited $NESR

Key Points

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Boston Partners bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49,105 shares of the company's stock, valued at approximately $361,000. Boston Partners owned approximately 0.05% of National Energy Services Reunited as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Iridian Asset Management LLC CT increased its position in shares of National Energy Services Reunited by 78.1% during the first quarter. Iridian Asset Management LLC CT now owns 273,944 shares of the company's stock worth $2,016,000 after purchasing an additional 120,108 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth about $3,515,000. Bank of America Corp DE acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth about $1,208,000. Ameriprise Financial Inc. purchased a new position in shares of National Energy Services Reunited during the fourth quarter worth about $1,162,000. Finally, Kazazian Asset Management LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth about $422,000. Institutional investors and hedge funds own 15.55% of the company's stock.

National Energy Services Reunited Stock Performance

NESR traded up $0.12 during trading on Friday, reaching $8.65. The company's stock had a trading volume of 966,826 shares, compared to its average volume of 717,328. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $9.89. The company's fifty day moving average price is $6.55 and its 200-day moving average price is $6.92. The company has a market capitalization of $834.29 million, a price-to-earnings ratio of 11.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $316.07 million. On average, equities analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NESR has been the topic of a number of research reports. Piper Sandler raised their price target on National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen lowered National Energy Services Reunited from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $14.60.

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.