HITE Hedge Asset Management LLC Has $14.40 Million Stock Position in National Energy Services Reunited $NESR

Key Points

• HITE Hedge Asset Management increased its stake in National Energy Services Reunited by 43.7% in the fourth quarter, ending with 919,381 shares worth about $14.4 million.
• The stock has drawn additional institutional interest, with firms like Citadel Advisors, Geode Capital Management, Boston Partners, and Dimensional Fund Advisors all adding or initiating positions; institutional investors own 15.55% of NESR.
• Analysts remain generally positive: the stock has a Moderate Buy consensus with a $28.86 price target, while NESR recently beat earnings and revenue estimates, though a director also sold a large block of shares in May.

HITE Hedge Asset Management LLC boosted its position in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 43.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 919,381 shares of the company's stock after purchasing an additional 279,543 shares during the period. National Energy Services Reunited comprises 0.9% of HITE Hedge Asset Management LLC's holdings, making the stock its 29th largest position. HITE Hedge Asset Management LLC owned about 0.95% of National Energy Services Reunited worth $14,398,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NESR. Citadel Advisors LLC bought a new position in National Energy Services Reunited in the 3rd quarter valued at about $22,722,000. Geode Capital Management LLC raised its holdings in National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock valued at $4,908,000 after acquiring an additional 780,180 shares during the period. Boston Partners raised its holdings in National Energy Services Reunited by 357.8% in the 3rd quarter. Boston Partners now owns 764,293 shares of the company's stock valued at $7,842,000 after acquiring an additional 597,348 shares during the period. Dimensional Fund Advisors LP raised its holdings in National Energy Services Reunited by 153.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 963,287 shares of the company's stock valued at $15,085,000 after acquiring an additional 583,898 shares during the period. Finally, Phocas Financial Corp. bought a new position in National Energy Services Reunited in the 4th quarter valued at about $8,311,000. 15.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Barclays increased their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Zacks Research cut shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Piper Sandler increased their price target on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.86.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $26.50 on Friday. The company's 50 day simple moving average is $24.47 and its 200 day simple moving average is $20.85. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 40.77, a price-to-earnings-growth ratio of 0.32 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a 1 year low of $5.66 and a 1 year high of $27.25.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million for the quarter, compared to analysts' expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. National Energy Services Reunited's revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts predict that National Energy Services Reunited will post 1.64 EPS for the current fiscal year.

Insider Transactions at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total value of $14,992,440.16. Following the transaction, the director directly owned 4,255,856 shares of the company's stock, valued at $111,248,075.84. This trade represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,808,154 shares of company stock valued at $47,410,676 over the last quarter. Company insiders own 9.70% of the company's stock.

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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