GeoSphere Capital Management LLC Purchases Shares of 1,165,496 National Energy Services Reunited Corp. (NASDAQ:NESR)

GeoSphere Capital Management LLC acquired a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,165,496 shares of the company's stock, valued at approximately $10,443,000. National Energy Services Reunited makes up about 4.9% of GeoSphere Capital Management LLC's holdings, making the stock its largest holding. GeoSphere Capital Management LLC owned about 1.22% of National Energy Services Reunited as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in National Energy Services Reunited during the 4th quarter valued at $41,000. Tower Research Capital LLC TRC purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $49,000. National Bank of Canada FI purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $74,000. TD Waterhouse Canada Inc. bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at about $89,000. Finally, Robotti Robert purchased a new position in National Energy Services Reunited during the fourth quarter worth about $90,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark began coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They set a "buy" rating and a $15.00 target price on the stock. Barclays lifted their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th.

National Energy Services Reunited Price Performance

NESR opened at $6.22 on Friday. National Energy Services Reunited Corp. has a twelve month low of $5.20 and a twelve month high of $10.00. The company's 50-day moving average price is $6.82 and its two-hundred day moving average price is $8.20. The stock has a market cap of $597.41 million, a price-to-earnings ratio of 7.78 and a beta of 0.42. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $343.68 million during the quarter, compared to analysts' expectations of $339.84 million. As a group, equities analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

National Energy Services Reunited Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.

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