Empowered Funds LLC Has $10.54 Million Stock Position in National Energy Services Reunited $NESR

Key Points

• Empowered Funds increased its NESR stake by 9.3% in the first quarter, holding 491,009 shares valued at approximately $10.54 million. Institutional investors and hedge funds collectively own 15.55% of the company.
• Insider selling was substantial: Director Yousif Mohammed Ali Al-Nowais sold 1.92 million shares for about $51.45 million, while insiders sold roughly $135.7 million worth of stock over the past 90 days.
• Analysts remain broadly positive, with an average “Buy” rating and a $29.71 price target. NESR recently beat quarterly earnings and revenue estimates, reporting $0.26 EPS and $404.59 million in revenue, up 33.5% year over year.

Empowered Funds LLC lifted its stake in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,009 shares of the company's stock after purchasing an additional 41,741 shares during the quarter. Empowered Funds LLC owned about 0.49% of National Energy Services Reunited worth $10,542,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in National Energy Services Reunited during the 3rd quarter worth approximately $22,722,000. Boston Partners grew its stake in National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company's stock valued at $30,594,000 after acquiring an additional 1,189,035 shares during the period. Millennium Management LLC grew its stake in National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company's stock valued at $19,381,000 after acquiring an additional 1,159,372 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock valued at $42,088,000 after acquiring an additional 997,300 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of National Energy Services Reunited during the first quarter worth approximately $19,045,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the sale, the director directly owned 229,198 shares of the company's stock, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 in the last 90 days. 9.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NESR. UBS Group boosted their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. BTIG Research restated a "buy" rating and issued a $32.00 target price on shares of National Energy Services Reunited in a report on Friday, July 10th. Weiss Ratings cut shares of National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, Barclays lifted their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, National Energy Services Reunited currently has an average rating of "Buy" and an average target price of $29.71.

National Energy Services Reunited Price Performance

NESR opened at $26.44 on Friday. National Energy Services Reunited has a 1 year low of $6.24 and a 1 year high of $30.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 0.28 and a beta of 0.31. The firm's fifty day moving average price is $26.42 and its two-hundred day moving average price is $23.78.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. The company's quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts anticipate that National Energy Services Reunited will post 1.74 earnings per share for the current fiscal year.

About National Energy Services Reunited

National Energy Services Reunited Corp NASDAQ: NESR is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company's mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR's service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.

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