Interval Partners LP Takes Position in National Energy Services Reunited $NESR

Key Points

• Interval Partners LP acquired 79,456 shares of National Energy Services Reunited, valued at approximately $585,000, during the first quarter of this year.
• National Energy Services Reunited reported earnings of $0.21 per share for the last quarter, exceeding analyst estimates of $0.19, with revenue hitting $327.37 million.
• Multiple analysts have increased their ratings for National Energy Services Reunited, with Piper Sandler raising the target price from $11.00 to $13.00 and an overall average rating of "Buy."

Interval Partners LP bought a new stake in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 79,456 shares of the company's stock, valued at approximately $585,000. Interval Partners LP owned 0.08% of National Energy Services Reunited as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Iridian Asset Management LLC CT raised its holdings in shares of National Energy Services Reunited by 78.1% during the 1st quarter. Iridian Asset Management LLC CT now owns 273,944 shares of the company's stock valued at $2,016,000 after buying an additional 120,108 shares during the period. Millennium Management LLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $3,515,000. Bank of America Corp DE acquired a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $1,208,000. Penn Capital Management Company LLC grew its position in shares of National Energy Services Reunited by 111.9% in the 1st quarter. Penn Capital Management Company LLC now owns 87,630 shares of the company's stock worth $645,000 after acquiring an additional 46,276 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $1,162,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR traded up $0.15 during mid-day trading on Tuesday, reaching $9.74. The company had a trading volume of 714,216 shares, compared to its average volume of 493,755. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $939.45 million, a PE ratio of 12.65 and a beta of 0.36. The company has a 50-day moving average price of $7.33 and a two-hundred day moving average price of $6.90. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $9.99.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NESR shares. Wall Street Zen upgraded National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. Piper Sandler increased their price target on National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Maxim Group assumed coverage on shares of National Energy Services Reunited in a research report on Tuesday. They issued a "buy" rating and a $16.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $14.83.

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.