National Energy Services Reunited $NESR Shares Sold by Kazazian Asset Management LLC

Kazazian Asset Management LLC lowered its holdings in National Energy Services Reunited (NASDAQ:NESR) by 54.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,000 shares of the company’s stock after selling 78,650 shares during the period. National Energy Services Reunited accounts for 1.1% of Kazazian Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Kazazian Asset Management LLC’s holdings in National Energy Services Reunited were worth $1,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of National Energy Services Reunited in the third quarter valued at $34,000. Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited in the second quarter valued at $34,000. Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited in the first quarter valued at $48,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of National Energy Services Reunited in the third quarter valued at $109,000. Finally, ProShare Advisors LLC grew its position in shares of National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares during the period. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR opened at $25.76 on Monday. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $27.25. The business has a 50-day moving average of $23.32 and a 200-day moving average of $19.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 0.33 and a beta of 0.38.

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

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $26.14, for a total transaction of $14,992,440.16. Following the sale, the director directly owned 4,255,856 shares in the company, valued at $111,248,075.84. The trade was a 11.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 1,102,540 shares of company stock worth $28,978,563. 9.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. 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 report on Monday, May 18th. 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 report on Wednesday, May 13th. Finally, Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, National Energy Services Reunited presently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

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.