GeoSphere Capital Management LLC Invests $10.44 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

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

A number of other hedge funds have also bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $79,108,000. SCF Partners Inc. acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $71,605,000. Fort Baker Capital Management LP acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $27,670,000. Balyasny Asset Management L.P. acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $20,330,000. Finally, Diameter Capital Partners LP acquired a new stake in National Energy Services Reunited during the fourth quarter worth about $8,142,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

Shares of NESR traded down $0.20 during mid-day trading on Thursday, reaching $6.33. The company had a trading volume of 1,422 shares, compared to its average volume of 151,660. The company's 50 day simple moving average is $6.75 and its 200 day simple moving average is $8.14. National Energy Services Reunited Corp. has a 1-year low of $5.20 and a 1-year high of $10.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. The company has a market capitalization of $607.49 million, a price-to-earnings ratio of 8.09 and a beta of 0.42.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Analysts expect that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NESR. Barclays increased their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Benchmark began coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They set a "buy" rating and a $15.00 price objective on the stock.

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.