Pacer Advisors Inc. Invests $5.54 Million in National Energy Services Reunited $NESR

Pacer Advisors Inc. acquired a new stake in shares of National Energy Services Reunited (NASDAQ:NESR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 540,240 shares of the company’s stock, valued at approximately $5,543,000. Pacer Advisors Inc. owned about 0.56% of National Energy Services Reunited at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. purchased a new position in National Energy Services Reunited in the second quarter worth about $37,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited in the first quarter worth approximately $48,000. BNP Paribas Financial Markets grew its holdings in shares of National Energy Services Reunited by 92.6% during the second quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company’s stock valued at $104,000 after buying an additional 8,337 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of National Energy Services Reunited during the first quarter valued at approximately $89,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Up 0.9%

National Energy Services Reunited stock opened at $15.23 on Tuesday. National Energy Services Reunited has a one year low of $5.20 and a one year high of $15.28. The stock has a fifty day moving average of $13.83 and a 200 day moving average of $10.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The stock has a market cap of $1.47 billion, a PE ratio of 20.86 and a beta of 0.27.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. As a group, sell-side analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Analyst Upgrades and Downgrades

NESR has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 22nd. National Bankshares set a $16.00 target price on National Energy Services Reunited in a research report on Tuesday, September 9th. Finally, Piper Sandler upped their target price on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.86.

About National Energy Services Reunited

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.