Squarepoint Ops LLC Acquires 134,316 Shares of National Energy Services Reunited $NESR

Key Points

• Squarepoint Ops increased its NESR stake by 39.2% in the second quarter, acquiring 134,316 shares and bringing its holdings to 476,608 shares. Institutional investors collectively own 15.55% of the company.
• NESR reported strong quarterly results, with EPS of $0.44 versus the $0.35 estimate and revenue of $520.75 million, up 59.1% year over year.
• Analysts maintain a bullish outlook, with the stock carrying an average “Buy” rating and price target of $33.57, although insiders sold 3.43 million shares worth approximately $92.3 million over the past 90 days.

Squarepoint Ops LLC raised its holdings in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 39.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 476,608 shares of the company's stock after acquiring an additional 134,316 shares during the period. Squarepoint Ops LLC owned about 0.47% of National Energy Services Reunited worth $14,265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Millennium Management LLC raised its position in shares of 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 purchasing an additional 149,796 shares during the period. Jane Street Group LLC bought a new stake in National Energy Services Reunited during the 1st quarter worth approximately $1,425,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter worth approximately $48,000. Geode Capital Management LLC raised its holdings in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock worth $4,908,000 after buying an additional 780,180 shares during the period. Finally, Legal & General Group Plc bought a new position in National Energy Services Reunited in the second quarter valued at approximately $34,000. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $34.70 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average price is $30.93 and its two-hundred day moving average price is $26.45. National Energy Services Reunited has a 1 year low of $9.51 and a 1 year high of $36.94. The firm has a market capitalization of $3.50 billion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.39.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 EPS 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 the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The company's revenue for the quarter was up 59.1% on a year-over-year basis. As a group, research analysts anticipate that National Energy Services Reunited will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NESR shares. BTIG Research upped 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 report on Monday, August 10th. Piper Sandler raised 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. UBS Group boosted their price objective on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Citigroup reaffirmed a "buy" rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $33.57.

Insider Activity at National Energy Services Reunited

In related news, CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business'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 value of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares in the company, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,434,614 shares of company stock worth $92,297,886. Insiders own 9.70% of the company's stock.

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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