National Energy Services Reunited $NESR is SCF Partners Inc.'s Largest Position

Key Points

• SCF Partners cut its stake in National Energy Services Reunited by 81.2% in the first quarter, but NESR still remains its largest holding, accounting for essentially 100% of the fund’s portfolio.
• Wall Street sentiment on NESR is bullish, with multiple analysts raising price targets and ratings; the stock currently has a consensus Buy rating and a $29.43 target price.
• The company posted better-than-expected quarterly results, reporting $0.26 EPS versus $0.21 expected and revenue of $404.6 million, while shares were trading near $27.88 after recently hitting a 12-month high of $30.31.

SCF Partners Inc. lowered its stake in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 81.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,500,000 shares of the company's stock after selling 6,491,677 shares during the quarter. National Energy Services Reunited comprises about 100.0% of SCF Partners Inc.'s holdings, making the stock its largest position. SCF Partners Inc. owned 1.49% of National Energy Services Reunited worth $32,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Royal Bank of Canada grew its holdings in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock valued at $30,000 after purchasing an additional 1,499 shares during the period. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $34,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited in the 1st quarter valued at $48,000. Osaic Holdings Inc. purchased a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $73,000. Finally, State of Wyoming purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $76,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NESR. BTIG Research increased their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Zacks Research raised National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Barclays upped their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Finally, Piper Sandler lifted their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $29.43.

Insider Activity at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares of the company's stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 5,129,198 shares of company stock worth $135,731,984. Company insiders own 9.70% of the company's stock.

National Energy Services Reunited Stock Up 2.5%

Shares of NASDAQ NESR opened at $27.88 on Friday. The stock has a fifty day moving average price of $25.72 and a 200 day moving average price of $22.54. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 12-month low of $5.91 and a 12-month high of $30.31. The company has a market cap of $2.81 billion, a P/E ratio of 42.89, a P/E/G ratio of 0.35 and a beta of 0.31.

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 return on equity of 9.77% and a net margin of 4.53%.The company had revenue of $404.59 million for the quarter, compared to analysts' expectations of $370.87 million. The company's quarterly revenue was up 33.5% on a year-over-year basis. Research analysts anticipate that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

National Energy Services Reunited Profile

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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