JPMorgan Chase & Co. Invests $394,000 in National Energy Services Reunited Corp. (NASDAQ:NESR)

JPMorgan Chase & Co. purchased a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 43,966 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. R Squared Ltd bought a new position in National Energy Services Reunited in the 4th quarter worth about $41,000. Sei Investments Co. bought a new position in shares of National Energy Services Reunited in the fourth quarter worth approximately $328,000. Iridian Asset Management LLC CT bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at about $1,378,000. Finally, Tejara Capital Ltd purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $3,600,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

Wall Street Analysts Forecast Growth

NESR has been the topic of a number of research reports. Barclays boosted their target price on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a report 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 target price on the stock.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR traded down $0.21 on Wednesday, reaching $6.05. The company's stock had a trading volume of 161,507 shares, compared to its average volume of 150,265. The company has a market cap of $581.08 million, a P/E ratio of 7.56 and a beta of 0.42. National Energy Services Reunited Corp. has a 52-week low of $5.20 and a 52-week high of $10.25. The company has a 50-day simple moving average of $6.89 and a 200 day simple moving average of $8.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced 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 business had revenue of $343.68 million during the quarter, compared to the consensus estimate of $339.84 million. As a group, equities research analysts anticipate that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal year.

National Energy Services Reunited Company 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.