Dodge & Cox Sells 59,495 Shares of National Energy Services Reunited $NESR

Key Points

• Dodge & Cox reduced its holdings in National Energy Services Reunited (NESR) by 7.7%, selling 59,495 shares, and now owns 708,594 shares valued at approximately $5.2 million.
• Recently, several brokerages have downgraded NESR's rating while others have set new price targets, with Piper Sandler raising it from $11.00 to $13.00 and a consensus price target averaging $14.60.
• NESR reported a quarterly EPS of $0.21, surpassing estimates, and generated revenue of $327.37 million, exceeding analyst projections.

Dodge & Cox reduced its holdings in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 708,594 shares of the company's stock after selling 59,495 shares during the period. Dodge & Cox owned approximately 0.74% of National Energy Services Reunited worth $5,215,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in National Energy Services Reunited in the fourth quarter valued at approximately $49,000. TD Waterhouse Canada Inc. acquired a new stake in National Energy Services Reunited in the fourth quarter worth $89,000. Toronto Dominion Bank acquired a new stake in National Energy Services Reunited in the fourth quarter worth $90,000. EntryPoint Capital LLC acquired a new stake in National Energy Services Reunited in the first quarter worth $81,000. Finally, Alpine Global Management LLC acquired a new stake in National Energy Services Reunited in the fourth quarter worth $102,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a report on Monday. Piper Sandler increased their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $14.60.

National Energy Services Reunited Stock Up 0.4%

National Energy Services Reunited stock traded up $0.04 during mid-day trading on Thursday, reaching $9.07. The company's stock had a trading volume of 619,960 shares, compared to its average volume of 485,442. The company has a market capitalization of $874.83 million, a price-to-earnings ratio of 11.78 and a beta of 0.39. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89. The business's 50 day simple moving average is $6.71 and its 200 day simple moving average is $6.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. The business had revenue of $327.37 million during the quarter, compared to the consensus estimate of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. As a group, research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

National Energy Services Reunited Company 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.