Empowered Funds LLC Acquires 41,741 Shares of National Energy Services Reunited $NESR

Empowered Funds LLC boosted its holdings in National Energy Services Reunited (NASDAQ:NESR) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,009 shares of the company’s stock after purchasing an additional 41,741 shares during the period. Empowered Funds LLC’s holdings in National Energy Services Reunited were worth $10,542,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NESR. Dodge & Cox increased its position in shares of National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of National Energy Services Reunited in the 3rd quarter worth about $22,722,000. Dimensional Fund Advisors LP grew its position in National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after buying an additional 997,300 shares during the period. Boston Partners grew its position in National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after buying an additional 1,189,035 shares during the period. Finally, Millennium Management LLC increased its holdings in National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares during the last quarter. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Trading Up 8.3%

Shares of National Energy Services Reunited stock opened at $26.44 on Friday. National Energy Services Reunited has a 52-week low of $6.24 and a 52-week high of $30.31. The stock’s 50-day simple moving average is $26.42 and its 200 day simple moving average is $23.78. The stock has a market capitalization of $2.67 billion, a P/E ratio of 40.68, a P/E/G ratio of 0.28 and a beta of 0.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $404.59 million during the quarter, compared to analyst estimates 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. As a group, research analysts anticipate that National Energy Services Reunited will post 1.74 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 5,129,198 shares of company stock worth $135,731,984. Corporate insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

NESR has been the topic of several research reports. Barclays lifted their price objective 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. BTIG Research reissued a “buy” rating and set a $32.00 target price on shares of National Energy Services Reunited in a research report on Friday, July 10th. Weiss Ratings lowered shares of National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. 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 report on Tuesday, June 30th. Finally, Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, National Energy Services Reunited presently has an average rating of “Buy” and an average target price of $29.71.

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.