National Energy Services Reunited $NESR Shares Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 40.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,322 shares of the company’s stock after acquiring an additional 29,352 shares during the quarter. Penn Capital Management Company LLC owned about 0.11% of National Energy Services Reunited worth $1,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NESR. Millennium Management LLC increased its stake in 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 acquiring an additional 149,796 shares during the last quarter. Jane Street Group LLC acquired a new stake in National Energy Services Reunited during the first quarter worth $1,425,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the first quarter worth $48,000. Geode Capital Management LLC increased its stake in National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after acquiring an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the second quarter worth $34,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. BTIG Research raised their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group lifted their price objective on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler lifted their price objective on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Barclays lifted their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

National Energy Services Reunited Trading Down 2.5%

NASDAQ:NESR opened at $25.24 on Thursday. The firm has a market cap of $2.55 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.34 and a beta of 0.38. The stock has a fifty day moving average price of $23.68 and a 200 day moving average price of $19.96. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $27.25. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.National Energy Services Reunited’s revenue for the quarter was up 33.5% on a year-over-year basis. Sell-side analysts anticipate that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $26.14, for a total value of $14,992,440.16. Following the completion of the transaction, the director directly owned 4,255,856 shares in the company, valued at approximately $111,248,075.84. This trade represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 1,802,428 shares of company stock valued at $47,264,488 in the last ninety days. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited Company 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.