Bank of America Corp DE Makes New Investment in National Energy Services Reunited Corp. (NASDAQ:NESR)

Bank of America Corp DE acquired a new position in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth about $49,000. National Bank of Canada FI purchased a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $74,000. TD Waterhouse Canada Inc. bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $89,000. Robotti Robert purchased a new position in National Energy Services Reunited in the fourth quarter valued at approximately $90,000. Finally, Alpine Global Management LLC bought a new position in National Energy Services Reunited during the fourth quarter valued at $102,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

National Energy Services Reunited Price Performance

NASDAQ:NESR traded up $0.26 during trading hours on Monday, hitting $6.11. The stock had a trading volume of 607,378 shares, compared to its average volume of 187,299. The firm has a market capitalization of $589.33 million, a price-to-earnings ratio of 7.54 and a beta of 0.39. National Energy Services Reunited Corp. has a one year low of $5.20 and a one year high of $9.89. The company has a 50 day simple moving average of $6.20 and a two-hundred day simple moving average of $7.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $303.10 million during the quarter, compared to analyst estimates of $304.68 million. Research analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays upped their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the company 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 report on Saturday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, National Energy Services Reunited currently has a consensus rating of "Buy" and a consensus price target of $15.00.

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.