Fifth Lane Capital LP Makes New $179,000 Investment in National Energy Services Reunited Corp. (NASDAQ:NESR)

Fifth Lane Capital LP acquired a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $179,000. National Energy Services Reunited accounts for 0.5% of Fifth Lane Capital LP’s investment portfolio, making the stock its 23rd largest position.

A number of other large investors have also modified their holdings of NESR. SCF Partners Inc. acquired a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $71,605,000. ExodusPoint Capital Management LP acquired a new position in National Energy Services Reunited during the fourth quarter worth $7,098,000. Dodge & Cox acquired a new stake in shares of National Energy Services Reunited in the 4th quarter valued at $6,882,000. HITE Hedge Asset Management LLC grew its holdings in shares of National Energy Services Reunited by 3.4% in the 4th quarter. HITE Hedge Asset Management LLC now owns 727,235 shares of the company’s stock worth $6,516,000 after purchasing an additional 24,073 shares during the last quarter. Finally, Long Focus Capital Management LLC acquired a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $4,461,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

NESR stock opened at $6.23 on Thursday. The company has a 50 day moving average price of $7.17 and a 200 day moving average price of $8.34. National Energy Services Reunited Corp. has a fifty-two week low of $5.20 and a fifty-two week high of $10.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. The stock has a market capitalization of $598.37 million, a PE ratio of 7.79 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $343.68 million for the quarter, compared to analyst estimates of $339.84 million. Analysts forecast that National Energy Services Reunited Corp. will post 1.03 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on NESR. Barclays upped their price objective on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Benchmark began coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They set a “buy” rating and a $15.00 price target for the company.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.