Robeco Institutional Asset Management B.V. Buys 84,337 Shares of National Energy Services Reunited $NESR

Key Points

• Robeco Institutional Asset Management increased its NESR stake by 71.2%, acquiring 84,337 additional shares to own 202,719 shares valued at approximately $5.16 million. Institutional investors collectively hold 15.55% of the company.
• National Energy Services Reunited reported quarterly earnings of $0.44 per share, surpassing the $0.35 consensus estimate, while revenue reached $520.75 million—up 59.1% year over year.
• Analyst sentiment remains positive, with eight Buy ratings and two Holds and a consensus target price of $40.38; however, insiders sold 176,894 shares worth $6.22 million during the quarter.

Robeco Institutional Asset Management B.V. raised its stake in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 71.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,719 shares of the company's stock after acquiring an additional 84,337 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.20% of National Energy Services Reunited worth $5,163,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of National Energy Services Reunited by 351.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company's stock worth $29,000 after purchasing an additional 885 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter worth about $45,000. USA Financial Formulas increased its position in shares of National Energy Services Reunited by 63.0% during the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company's stock worth $48,000 after purchasing an additional 871 shares in the last quarter. Allworth Financial LP lifted its holdings in National Energy Services Reunited by 51.0% during the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company's stock valued at $57,000 after purchasing an additional 649 shares during the last quarter. Finally, GK Wealth Management LLC bought a new position in National Energy Services Reunited during the 3rd quarter valued at about $88,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock opened at $20.46 on Friday. The business's fifty day moving average is $29.21 and its two-hundred day moving average is $27.34. 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 firm has a market cap of $2.06 billion, a P/E ratio of 22.24, a P/E/G ratio of 0.24 and a beta of 0.48. National Energy Services Reunited has a 52 week low of $11.84 and a 52 week high of $36.94.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm's revenue for the quarter was up 59.1% on a year-over-year basis. Equities research analysts forecast that National Energy Services Reunited will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the sale, the director directly owned 696,398 shares of the company's stock, valued at $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 176,894 shares of company stock worth $6,221,414 in the last quarter. Insiders own 9.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NESR. BTIG Research boosted 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. Weiss Ratings cut shares of National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 14th. Citigroup reaffirmed a "buy" rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Wall Street Zen cut shares of National Energy Services Reunited from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 3rd. Finally, Zacks Research cut shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, National Energy Services Reunited currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.38.

National Energy Services Reunited Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR's services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.

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