Bank of America Corp DE Acquires Shares of 134,843 National Energy Services Reunited Corp. (NASDAQ:NESR)

Bank of America Corp DE acquired a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 134,843 shares of the company's stock, valued at approximately $1,208,000. Bank of America Corp DE owned approximately 0.14% of National Energy Services Reunited at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in National Energy Services Reunited in the 4th quarter valued at $49,000. National Bank of Canada FI purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $74,000. TD Waterhouse Canada Inc. purchased a new stake in National Energy Services Reunited during the 4th quarter worth $89,000. Robotti Robert purchased a new stake in National Energy Services Reunited during the 4th quarter worth $90,000. Finally, Alpine Global Management LLC acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $102,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Up 5.6%

NASDAQ:NESR traded up $0.31 during mid-day trading on Friday, reaching $5.85. The stock had a trading volume of 581,440 shares, compared to its average volume of 184,902. National Energy Services Reunited Corp. has a fifty-two week low of $5.20 and a fifty-two 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 business's 50 day moving average is $6.20 and its 200 day moving average is $7.81. The stock has a market cap of $564.25 million, a P/E ratio of 7.22 and a beta of 0.39.

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

Analysts Set New Price Targets

Several research firms have commented on NESR. Barclays upped their target price 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. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a research note on Saturday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $15.00.

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.