Public Employees Retirement System of Ohio Takes $1.74 Million Position in National Energy Services Reunited $NESR

Public Employees Retirement System of Ohio purchased a new position in shares of National Energy Services Reunited (NASDAQ:NESR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,817 shares of the company’s stock, valued at approximately $1,735,000. Public Employees Retirement System of Ohio owned about 0.08% of National Energy Services Reunited at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dodge & Cox grew its position in National Energy Services Reunited by 5.6% in the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after buying an additional 119,100 shares during the last quarter. Citadel Advisors LLC purchased a new position in National Energy Services Reunited during the 3rd quarter worth $22,722,000. Dimensional Fund Advisors LP raised its position in National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after buying an additional 997,300 shares during the last quarter. Boston Partners lifted its stake in shares of National Energy Services Reunited by 155.6% in 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 during the period. Finally, Millennium Management LLC lifted its stake in shares of National Energy Services Reunited by 1,482.3% in 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 during the period. 15.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NESR has been the topic of a number of recent analyst reports. 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. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded 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 raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, BTIG Research reiterated 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited has a consensus rating of “Buy” and an average price target of $29.71.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR opened at $26.96 on Monday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 41.48, a PEG ratio of 0.31 and a beta of 0.33. National Energy Services Reunited has a one year low of $6.24 and a one year high of $30.31. The company’s fifty day moving average is $26.45 and its two-hundred day moving average is $23.85. 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 posted its quarterly 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 business 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 firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts forecast that National Energy Services Reunited will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,129,198 shares of company stock worth $135,731,984 over the last quarter. 9.70% of the stock is currently owned by insiders.

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.