Walleye Capital LLC Acquires Shares of 887,068 National Energy Services Reunited $NESR

Walleye Capital LLC bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR) in the first quarter, Holdings Channel reports. The institutional investor bought 887,068 shares of the company’s stock, valued at approximately $19,045,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in National Energy Services Reunited in the 4th quarter worth about $747,000. Oxbow Advisors LLC purchased a new stake in National Energy Services Reunited during the 4th quarter worth approximately $4,102,000. HITE Hedge Asset Management LLC raised its holdings in shares of National Energy Services Reunited by 43.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after acquiring an additional 279,543 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $8,311,000. Finally, AXQ Capital LP purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at approximately $342,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Trading Up 1.6%

Shares of National Energy Services Reunited stock opened at $28.93 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $26.35 and its 200-day simple moving average is $23.37. The stock has a market cap of $2.92 billion, a P/E ratio of 44.51, a P/E/G ratio of 0.33 and a beta of 0.31. National Energy Services Reunited has a 1-year low of $6.07 and a 1-year high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business’s revenue was up 33.5% on a year-over-year basis. Analysts predict that National Energy Services Reunited will post 1.74 EPS for the current fiscal year.

Insider Activity at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business’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 owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NESR. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Barclays increased their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. 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, June 30th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, UBS Group upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.