National Energy Services Reunited $NESR Stock Position Trimmed by Encompass Capital Advisors LLC

Key Points

• Encompass Capital Advisors trimmed its NESR stake by 22.8% in the fourth quarter, selling 2.1 million shares but still holding 7.1 million shares worth about $111.2 million. NESR remains a major position for the firm, representing 4.5% of its portfolio.
• National Energy Services Reunited reported strong quarterly results, with EPS of $0.26 beating estimates and revenue of $404.6 million coming in above expectations. Revenue also rose 33.5% year over year.
• Insider and analyst activity has been notable: a director sold 1.07 million shares, while analysts broadly remain constructive with a consensus rating of “Moderate Buy” and an average price target of $28.86.

Encompass Capital Advisors LLC cut its holdings in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,103,284 shares of the company's stock after selling 2,102,603 shares during the quarter. National Energy Services Reunited comprises approximately 4.5% of Encompass Capital Advisors LLC's portfolio, making the stock its 6th biggest holding. Encompass Capital Advisors LLC owned approximately 7.36% of National Energy Services Reunited worth $111,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NESR. Millennium Management LLC increased its stake in National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company's stock worth $3,990,000 after acquiring an additional 149,796 shares during the last quarter. Jane Street Group LLC acquired a new stake in National Energy Services Reunited during the first quarter worth about $1,425,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the first quarter worth about $48,000. Geode Capital Management LLC increased 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 worth $4,908,000 after acquiring an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the second quarter worth about $34,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Trading Down 3.7%

NASDAQ:NESR opened at $24.02 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $24.64 and its two-hundred day moving average is $21.13. National Energy Services Reunited has a 52 week low of $5.66 and a 52 week high of $27.69. The company has a market cap of $2.42 billion, a PE ratio of 36.95, a P/E/G ratio of 0.32 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results 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 the consensus estimate of $370.87 million. The company's quarterly revenue was up 33.5% on a year-over-year basis. On average, analysts predict that National Energy Services Reunited will post 1.68 EPS for the current year.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.13, for a total transaction of $27,922,335.09. Following the transaction, the director owned 2,481,649 shares of the company's stock, valued at $64,845,488.37. This trade represents a 30.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 3,209,604 shares of company stock worth $84,286,865. Company insiders own 9.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler increased their target price 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. BTIG Research increased their target price on 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. UBS Group increased their target price on 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. Zacks Research lowered National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.86.

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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