National Energy Services Reunited $NESR Shares Bought by Sei Investments Co.

Sei Investments Co. increased its stake in National Energy Services Reunited (NASDAQ:NESR) by 50.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,472 shares of the company’s stock after acquiring an additional 42,006 shares during the period. Sei Investments Co.’s holdings in National Energy Services Reunited were worth $2,672,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NESR. Hsbc Holdings PLC acquired a new stake in National Energy Services Reunited in the fourth quarter worth approximately $747,000. Oxbow Advisors LLC acquired a new position in shares of National Energy Services Reunited during the 4th quarter valued at $4,102,000. HITE Hedge Asset Management LLC increased its position in shares of National Energy Services Reunited by 43.7% during the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after purchasing an additional 279,543 shares during the period. Calamos Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter worth $1,671,000. Finally, AXQ Capital LP bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth $342,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group upped 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. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. BTIG Research reissued a “buy” rating and issued a $32.00 price target on shares of National Energy Services Reunited in a report on Friday, July 10th. Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.71.

National Energy Services Reunited Stock Performance

NESR opened at $29.02 on Friday. The firm has a market cap of $2.93 billion, a PE ratio of 44.65, a P/E/G ratio of 0.34 and a beta of 0.33. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $26.79 and a 200-day simple moving average of $24.17. National Energy Services Reunited has a fifty-two week low of $6.52 and a fifty-two week high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping 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%.National Energy Services Reunited’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, equities analysts predict that National Energy Services Reunited will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 5,129,198 shares of company stock valued at $135,731,984. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited 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.