National Energy Services Reunited $NESR Shares Sold by Occam Crest Management LP

Occam Crest Management LP decreased its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,059,688 shares of the company’s stock after selling 100,312 shares during the quarter. National Energy Services Reunited makes up about 11.5% of Occam Crest Management LP’s investment portfolio, making the stock its biggest holding. Occam Crest Management LP’s holdings in National Energy Services Reunited were worth $16,595,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mariner LLC boosted its holdings in National Energy Services Reunited by 13.8% during the fourth quarter. Mariner LLC now owns 18,255 shares of the company’s stock worth $286,000 after purchasing an additional 2,213 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in National Energy Services Reunited during the fourth quarter worth $2,432,000. Barclays PLC boosted its holdings in National Energy Services Reunited by 10.6% during the fourth quarter. Barclays PLC now owns 95,001 shares of the company’s stock worth $1,488,000 after purchasing an additional 9,126 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in National Energy Services Reunited during the fourth quarter worth $295,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in National Energy Services Reunited during the fourth quarter worth $4,154,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NESR. Piper Sandler increased their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. UBS Group upped their price target on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Insider Transactions at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 5,526 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $25.53, for a total value of $141,078.78. Following the transaction, the director directly owned 3,550,442 shares of the company’s stock, valued at $90,642,784.26. This represents a 0.16% 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. Insiders have sold 1,808,154 shares of company stock worth $47,410,676 over the last 90 days. Corporate insiders own 9.70% of the company’s stock.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $26.11 on Tuesday. 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 firm’s fifty day moving average price is $24.53 and its two-hundred day moving average price is $20.98. National Energy Services Reunited has a 1 year low of $5.66 and a 1 year high of $27.69. The firm has a market capitalization of $2.63 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly 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 net margin of 4.53% and a return on equity of 9.77%. The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts anticipate that National Energy Services Reunited will post 1.68 EPS for the current year.

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.