Navellier & Associates Inc. Invests $4.52 Million in National Energy Services Reunited $NESR

Navellier & Associates Inc. bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 151,079 shares of the company’s stock, valued at approximately $4,522,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after purchasing an additional 1,499 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after buying an additional 871 shares in the last quarter. State of Wyoming acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $76,000. Clearstead Advisors LLC grew its position in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after buying an additional 3,171 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $34,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $34.44 on Friday. The stock has a market capitalization of $3.47 billion, a PE ratio of 37.43, a price-to-earnings-growth ratio of 0.33 and a beta of 0.33. National Energy Services Reunited has a 52-week low of $9.10 and a 52-week high of $36.94. The stock’s 50-day moving average price is $29.74 and its 200 day moving average price is $25.71. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company had revenue of $520.75 million during the quarter, compared to analysts’ expectations of $448.54 million. The firm’s revenue was up 59.1% compared to the same quarter last year. As a group, equities research analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

NESR has been the subject of a number of research reports. Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. BTIG Research raised their price objective on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barclays boosted their target price on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Buy” and a consensus price target of $33.57.

Insider Activity at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the 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 completion of the transaction, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,340,340 shares of company stock valued at $88,944,075 in the last 90 days. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited 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.