Bank of America Corp DE Makes New Investment in Expro Group Holdings N.V. $XPRO

Key Points

• Bank of America initiated a position in Expro Group during the second quarter, purchasing 373,587 shares worth approximately $5.5 million, or about 0.33% of the company. Institutional investors and hedge funds collectively own 92.07% of the stock.
• Analyst sentiment remains mixed: Expro has a consensus “Hold” rating and an average price target of $18, with targets including Barclays’ reduced $19 objective and Goldman Sachs’ $19 objective.
• Expro’s latest quarterly results were mixed, with revenue of $393.18 million exceeding estimates but EPS of $0.15 missing expectations. Revenue declined 7% year over year, while the stock recently opened at $16.37.

Bank of America Corp DE bought a new position in shares of Expro Group Holdings N.V. (NYSE:XPRO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 373,587 shares of the company's stock, valued at approximately $5,518,000. Bank of America Corp DE owned about 0.33% of Expro Group at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Freestone Grove Partners LP acquired a new stake in Expro Group in the second quarter worth about $283,000. Man Group plc acquired a new position in shares of Expro Group during the second quarter valued at about $405,000. Jupiter Topco LLC acquired a new position in shares of Expro Group during the second quarter valued at about $663,000. Legal & General Group Plc purchased a new position in shares of Expro Group in the 2nd quarter valued at approximately $1,520,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Expro Group in the 2nd quarter valued at approximately $543,000. 92.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of Expro Group from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Expro Group to a "hold" rating in a research note on Saturday, September 19th. The Goldman Sachs Group set a $19.00 price objective on shares of Expro Group in a report on Thursday, June 4th. Weiss Ratings raised Expro Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded Expro Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.00.

Expro Group Stock Up 0.2%

XPRO stock opened at $16.37 on Monday. The firm's fifty day simple moving average is $17.17 and its 200-day simple moving average is $16.45. The company has a market capitalization of $1.84 billion, a P/E ratio of 90.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.13 and a quick ratio of 1.76. Expro Group Holdings N.V. has a 12 month low of $11.60 and a 12 month high of $19.23.

Expro Group (NYSE:XPRO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Expro Group had a return on equity of 3.27% and a net margin of 1.33%.The business had revenue of $393.18 million for the quarter, compared to analysts' expectations of $387.36 million. During the same period last year, the business earned $0.30 EPS. The company's revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Expro Group Holdings N.V. will post 0.53 earnings per share for the current year.

About Expro Group

Expro Group, Inc provides energy services for offshore and onshore oil and natural gas wells. The company supports customers throughout the well life cycle, from exploration and appraisal through development, production, intervention and decommissioning.

Its services include well testing and evaluation, well flow management, subsea well access, well intervention, production optimization and well construction support. Expro also provides equipment and technologies designed to improve well performance, manage pressure and fluids, and support safe and efficient operations in challenging environments.

Expro serves exploration and production companies, primarily across international markets including the North Sea, the Gulf of Mexico, the Middle East, Africa, Asia-Pacific and Latin America.

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