National Energy Services Reunited $NESR is GeoSphere Capital Management LLC's Largest Position

Key Points

• GeoSphere Capital Management trimmed its NESR stake by 4.9% in the fourth quarter, but the stock remains its largest holding, making up 7.3% of the portfolio.
• Analyst sentiment is still positive, with several firms raising price targets; NESR now carries a consensus “Moderate Buy” rating and an average target price of $28.86.
• The company posted strong quarterly results, beating EPS and revenue estimates as revenue rose 33.5% year over year. However, insider selling was notable, including a director’s sale of 573,544 shares.

GeoSphere Capital Management LLC cut its position in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,415,124 shares of the company's stock after selling 73,573 shares during the period. National Energy Services Reunited comprises 7.3% of GeoSphere Capital Management LLC's portfolio, making the stock its largest holding. GeoSphere Capital Management LLC owned approximately 1.47% of National Energy Services Reunited worth $22,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox grew its stake in National Energy Services Reunited by 5.6% during the third quarter. Dodge & Cox now owns 2,255,894 shares of the company's stock valued at $23,145,000 after acquiring an additional 119,100 shares in the last quarter. Citadel Advisors LLC purchased a new position in National Energy Services Reunited during the third quarter valued at $22,722,000. MMCAP International Inc. SPC grew its stake in National Energy Services Reunited by 40.5% during the third quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company's stock valued at $8,671,000 after acquiring an additional 243,785 shares in the last quarter. Geode Capital Management LLC grew its stake in National Energy Services Reunited by 2,227.2% during the second 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 in the last quarter. Finally, Boston Partners grew its stake in National Energy Services Reunited by 357.8% during the third 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 in the last quarter. 15.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Barclays raised their target price on shares of 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. Piper Sandler raised their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Zacks Research cut shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Finally, BTIG Research raised their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, May 11th. 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, National Energy Services Reunited currently has a consensus rating of "Moderate Buy" and an average target price of $28.86.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $25.76 on Monday. National Energy Services Reunited has a 52 week low of $5.47 and a 52 week high of $27.25. The stock has a market capitalization of $2.60 billion, a P/E ratio of 39.63, a PEG ratio of 0.33 and a beta of 0.38. The firm has a fifty day simple moving average of $23.32 and a two-hundred day simple moving average of $19.68. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $404.59 million during the quarter, compared to analysts' expectations of $370.87 million. National Energy Services Reunited's revenue was up 33.5% compared to the same quarter last year. On average, analysts expect that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Insider Activity at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock in a transaction 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 1,102,540 shares of company stock valued at $28,978,563. 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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