Strs Ohio Makes New $588,000 Investment in National Energy Services Reunited $NESR

Strs Ohio purchased a new stake in National Energy Services Reunited (NASDAQ:NESR) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 27,400 shares of the company’s stock, valued at approximately $588,000.

Other large investors also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth $747,000. T. Rowe Price Investment Management Inc. acquired a new position in National Energy Services Reunited in the fourth quarter valued at $8,496,000. Invesco Ltd. increased its stake in National Energy Services Reunited by 135.2% in the fourth quarter. Invesco Ltd. now owns 174,582 shares of the company’s stock valued at $2,734,000 after purchasing an additional 100,357 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in National Energy Services Reunited by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after buying an additional 501 shares during the period. Finally, VARCOV Co. acquired a new stake in National Energy Services Reunited in the 4th quarter worth about $398,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $27.88 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 42.89, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31. National Energy Services Reunited has a 12 month low of $5.91 and a 12 month high of $30.31. 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 stock’s 50-day moving average is $25.72 and its 200-day moving average is $22.54.

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. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. The company’s revenue was up 33.5% compared to the same quarter last year. Equities analysts anticipate that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

NESR has been the subject of several recent analyst reports. BTIG Research lifted their price target 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. Piper Sandler raised their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, National Energy Services Reunited has a consensus rating of “Buy” and an average target price of $29.43.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the sale, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 in the last ninety days. 9.70% of the stock is owned by insiders.

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.