Navellier & Associates Inc. bought a new stake in National Energy Services Reunited (NASDAQ:NESR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 151,079 shares of the company's stock, valued at approximately $4,522,000. Navellier & Associates Inc. owned 0.15% of National Energy Services Reunited as of its most recent SEC filing.
Several other large investors have also modified their holdings of NESR. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company's stock worth $3,990,000 after purchasing an additional 149,796 shares during the period. Jane Street Group LLC purchased a new stake in National Energy Services Reunited in the 1st quarter valued at about $1,425,000. Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited in the 1st quarter valued at about $48,000. Geode Capital Management LLC lifted its position in National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock valued at $4,908,000 after buying an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in National Energy Services Reunited in the second quarter valued at about $34,000. Institutional investors and hedge funds own 15.55% of the company's stock.
National Energy Services Reunited Stock Down 1.7%
Shares of NESR opened at $34.44 on Friday. The stock has a market capitalization of $3.47 billion, a PE ratio of 37.43, a P/E/G ratio of 0.33 and a beta of 0.33. National Energy Services Reunited has a 1 year low of $9.10 and a 1 year high of $36.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The company's 50-day simple moving average is $29.74 and its 200-day simple moving average is $25.71.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The business had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. The business's quarterly revenue was up 59.1% compared to the same quarter last year. Analysts forecast that National Energy Services Reunited will post 1.82 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
NESR has been the subject of a number of recent analyst reports. BTIG Research lifted their price target on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Piper Sandler upped their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of National Energy Services Reunited from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. UBS Group lifted their target price on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the company a "buy" rating in a report on Tuesday, August 11th. Finally, Barclays boosted their target price on National Energy Services Reunited from $35.00 to $45.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $33.57.
Read Our Latest Stock Analysis on NESR
Insider Transactions at National Energy Services Reunited
In other news, CFO Stefan Angeli sold 13,570 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares of the company's stock, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company'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 sale, the director owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,340,340 shares of company stock worth $88,944,075 in the last ninety days. 9.70% of the stock is owned by corporate insiders.
About National Energy Services Reunited
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding NESR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Energy Services Reunited (NASDAQ:NESR - Free Report).
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