National Energy Services Reunited $NESR Stock Position Raised by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its NESR stake by 75.9% in the first quarter, purchasing 365,217 additional shares to hold 846,597 shares worth approximately $18.2 million. Institutional investors collectively own 15.55% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $29.71; UBS and Piper Sandler recently raised their targets to $36 and $35, respectively.
• NESR exceeded quarterly expectations, reporting $0.26 in earnings per share versus a $0.21 estimate and revenue of $404.6 million, up 33.5% year over year. However, insiders sold more than 5.1 million shares worth about $135.7 million over the past 90 days.

Arrowstreet Capital Limited Partnership grew its holdings in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 75.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,597 shares of the company's stock after purchasing an additional 365,217 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.84% of National Energy Services Reunited worth $18,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of 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 worth $30,000 after acquiring an additional 1,499 shares during the last quarter. State of Wyoming acquired a new stake in National Energy Services Reunited in the 4th quarter worth approximately $76,000. Clearstead Advisors LLC boosted its holdings in shares of National Energy Services Reunited by 180.1% during the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company's stock worth $77,000 after buying an additional 3,171 shares during the period. Legal & General Group Plc bought a new stake in National Energy Services Reunited during the second quarter valued at about $34,000. Finally, Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited in the 1st quarter valued at approximately $48,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. UBS Group lifted 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 report on Tuesday, June 30th. Zacks Research raised National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. Piper Sandler increased their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $29.71.

Insiders Place Their Bets

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business's stock in a transaction on Thursday, June 25th. The stock was 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 in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, 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 Trading Up 8.3%

National Energy Services Reunited stock opened at $26.44 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. The stock has a market capitalization of $2.67 billion, a P/E ratio of 40.68, a PEG ratio of 0.28 and a beta of 0.31. National Energy Services Reunited has a 52 week low of $6.24 and a 52 week high of $30.31. The stock has a 50-day simple moving average of $26.42 and a 200 day simple moving average of $23.78.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released 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. The firm had revenue of $404.59 million during 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%. The firm's revenue for the quarter was up 33.5% on a year-over-year basis. Analysts expect that National Energy Services Reunited will post 1.74 earnings per share for the current 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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