SCF Partners Inc. Sells 6,491,677 Shares of National Energy Services Reunited $NESR

SCF Partners Inc. cut its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 81.2% in the 1st quarter, Holdings Channel reports. The fund owned 1,500,000 shares of the company’s stock after selling 6,491,677 shares during the period. National Energy Services Reunited accounts for about 100.0% of SCF Partners Inc.’s investment portfolio, making the stock its biggest position. SCF Partners Inc.’s holdings in National Energy Services Reunited were worth $32,205,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NESR. Dodge & Cox increased its holdings in National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock worth $23,145,000 after purchasing an additional 119,100 shares during the last quarter. Citadel Advisors LLC bought a new position in National Energy Services Reunited during the 3rd quarter valued at $22,722,000. Boston Partners grew its holdings in National Energy Services Reunited by 155.6% during the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after acquiring an additional 1,189,035 shares in the last quarter. Millennium Management LLC grew its holdings in National Energy Services Reunited by 1,482.3% during the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after acquiring an additional 1,159,372 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of National Energy Services Reunited by 153.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 963,287 shares of the company’s stock worth $15,085,000 after purchasing an additional 583,898 shares during the last quarter. Institutional investors and hedge funds own 15.55% of the company’s stock.

Insider Buying and Selling at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 is accessible through this hyperlink. In the last 90 days, insiders sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is currently owned by corporate insiders.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $27.88 on Friday. The company has a market cap of $2.81 billion, a PE ratio of 42.89, a P/E/G ratio of 0.35 and a beta of 0.31. National Energy Services Reunited has a fifty-two week low of $5.91 and a fifty-two week high of $30.31. The firm has a 50-day simple moving average of $25.72 and a 200 day simple moving average of $22.54. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last issued 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 firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, sell-side analysts anticipate that National Energy Services Reunited will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

NESR has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of 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. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. BTIG Research boosted their price objective on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler increased their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $29.43.

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.