National Energy Services Reunited $NESR Stock: Robeco Institutional Asset Management B.V. Grows Holdings

Robeco Institutional Asset Management B.V. raised its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 71.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,719 shares of the company’s stock after purchasing an additional 84,337 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in National Energy Services Reunited were worth $5,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of National Energy Services Reunited during the 3rd quarter worth approximately $211,000. GK Wealth Management LLC bought a new stake in shares of National Energy Services Reunited during the third quarter worth approximately $88,000. Farther Finance Advisors LLC raised its stake in shares of National Energy Services Reunited by 351.2% during the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock worth $29,000 after buying an additional 885 shares during the last quarter. Arlington Capital Management Inc. acquired a new position in National Energy Services Reunited in the second quarter valued at approximately $424,000. Finally, Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited in the second quarter valued at approximately $45,000. Institutional investors own 15.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. BMO Capital Markets began coverage on shares of National Energy Services Reunited in a research note on Thursday, October 1st. They issued an “outperform” rating and a $39.00 price objective on the stock. Piper Sandler lowered their target price on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 14th. Wall Street Zen cut shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.38.

Insider Activity at National Energy Services Reunited

In related news, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at approximately $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 176,894 shares of company stock worth $6,221,414 in the last ninety days. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited Price Performance

Shares of NESR opened at $20.46 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 1 year low of $11.84 and a 1 year high of $36.94. The stock has a market cap of $2.06 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The stock’s 50-day moving average price is $29.21 and its two-hundred day moving average price is $27.34.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The company had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm’s revenue was up 59.1% compared to the same quarter last year. On average, equities analysts predict that National Energy Services Reunited will post 1.65 earnings per share for the current year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.