Encompass Capital Advisors LLC Sells 2,841,895 Shares of National Energy Services Reunited $NESR

Encompass Capital Advisors LLC cut its stake in shares of National Energy Services Reunited (NASDAQ:NESR) by 40.0% during the 1st quarter, Holdings Channel reports. The fund owned 4,261,389 shares of the company’s stock after selling 2,841,895 shares during the period. National Energy Services Reunited comprises approximately 2.7% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 5th largest position. Encompass Capital Advisors LLC’s holdings in National Energy Services Reunited were worth $91,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Royal Bank of Canada grew its holdings in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after purchasing an additional 1,499 shares during the period. State of Wyoming acquired a new position in shares of National Energy Services Reunited during the fourth quarter valued at about $76,000. Clearstead Advisors LLC raised its holdings in shares of National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after purchasing an additional 3,171 shares during the period. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the 2nd quarter worth about $34,000. Finally, Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter worth about $48,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 5,129,198 shares of company stock valued at $135,731,984. Corporate insiders own 9.70% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $26.87 on Tuesday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 41.34, a P/E/G ratio of 0.32 and a beta of 0.31. National Energy Services Reunited has a 52 week low of $6.24 and a 52 week high of $30.31. The stock has a 50 day moving average price of $26.45 and a two-hundred day moving average price of $23.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $404.59 million for 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%.The business’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities analysts forecast that National Energy Services Reunited will post 1.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on NESR shares. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Barclays increased their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $32.00 price objective on shares of National Energy Services Reunited in a research note on Friday, July 10th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, UBS Group boosted their price objective on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.71.

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.