National Energy Services Reunited $NESR Shares Sold by Covestor Ltd

Covestor Ltd lessened its stake in National Energy Services Reunited (NASDAQ:NESR) by 57.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,543 shares of the company’s stock after selling 23,653 shares during the period. Covestor Ltd’s holdings in National Energy Services Reunited were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its position in National Energy Services Reunited by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after acquiring an additional 719 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in National Energy Services Reunited by 4.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock valued at $306,000 after acquiring an additional 772 shares during the period. CWM LLC increased its position in National Energy Services Reunited by 2.9% in the 4th quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after acquiring an additional 845 shares during the period. TD Waterhouse Canada Inc. increased its position in National Energy Services Reunited by 21.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after acquiring an additional 2,100 shares during the period. Finally, SG Americas Securities LLC increased its position in National Energy Services Reunited by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 14,901 shares of the company’s stock valued at $233,000 after acquiring an additional 3,040 shares during the period. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NESR. Piper Sandler boosted their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday. Barclays boosted their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. UBS Group boosted their price target on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $25.41 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $23.00 and its two-hundred day moving average is $19.41. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $27.25. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 0.35 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. The business’s revenue was up 33.5% compared to the same quarter last year. Research analysts expect that National Energy Services Reunited will post 1.61 EPS for the current year.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 223,626 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $26.85, for a total transaction of $6,004,358.10. Following the transaction, the director owned 5,134,770 shares in the company, valued at approximately $137,868,574.50. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.70% of the company’s stock.

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.