Oxbow Advisors LLC Cuts Stake in National Energy Services Reunited $NESR

Oxbow Advisors LLC lessened its stake in shares of National Energy Services Reunited (NASDAQ:NESR) by 33.1% during the first quarter, HoldingsChannel reports. The firm owned 175,127 shares of the company’s stock after selling 86,783 shares during the period. Oxbow Advisors LLC’s holdings in National Energy Services Reunited were worth $3,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NESR. Citigroup Inc. raised its holdings in shares of National Energy Services Reunited by 680.2% during the 3rd quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock valued at $1,917,000 after buying an additional 162,858 shares during the period. Quantbot Technologies LP lifted its position in National Energy Services Reunited by 102.6% during the 3rd quarter. Quantbot Technologies LP now owns 66,078 shares of the company’s stock worth $678,000 after acquiring an additional 33,464 shares in the last quarter. EdgePoint Investment Group Inc. purchased a new position in National Energy Services Reunited in the 3rd quarter worth approximately $923,000. HITE Hedge Asset Management LLC boosted its holdings in National Energy Services Reunited by 43.7% in the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock worth $14,398,000 after acquiring an additional 279,543 shares during the period. Finally, Phocas Financial Corp. acquired a new stake in National Energy Services Reunited in the fourth quarter valued at approximately $8,311,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NESR shares. Piper Sandler lifted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research note 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 report on Saturday, May 16th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. UBS Group lifted their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BTIG Research boosted their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. One equities 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.com, the stock presently has a consensus rating of “Buy” and an average price target of $29.43.

National Energy Services Reunited Price Performance

NESR stock opened at $27.90 on Friday. The stock’s 50 day moving average is $25.47 and its two-hundred day moving average is $22.12. National Energy Services Reunited has a 52-week low of $5.91 and a 52-week high of $30.31. The company has a market capitalization of $2.81 billion, a PE ratio of 42.92, a P/E/G ratio of 0.35 and a beta of 0.31. 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 released its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $404.59 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. Analysts predict that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the sale, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 5,129,198 shares of company stock valued at $135,731,984 in the last three months. 9.70% of the stock is currently owned by insiders.

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.