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) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 79,456 shares of the company's stock, valued at approximately $585,000. Interval Partners LP owned approximately 0.08% of National Energy Services Reunited as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barclays PLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $430,000. Dimensional Fund Advisors LP acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $176,000. Tower Research Capital LLC TRC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $49,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $511,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $1,162,000. Institutional investors own 15.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NESR. Wall Street Zen raised National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. Maxim Group initiated coverage on National Energy Services Reunited in a research report on Tuesday. They issued a "buy" rating and a $16.00 price target on the stock. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research report on Tuesday. Finally, Piper Sandler increased their target price 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. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $15.00.

National Energy Services Reunited Trading Up 1.0%

Shares of NASDAQ:NESR traded up $0.11 during midday trading on Thursday, reaching $10.15. The company's stock had a trading volume of 219,323 shares, compared to its average volume of 494,092. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $10.20. The firm has a market capitalization of $978.49 million, a price-to-earnings ratio of 13.16 and a beta of 0.37. The firm has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $6.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

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