National Energy Services Reunited $NESR Shares Sold by Oxbow Advisors LLC

Oxbow Advisors LLC reduced its position in National Energy Services Reunited (NASDAQ:NESR) by 33.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 175,127 shares of the company’s stock after selling 86,783 shares during the period. Oxbow Advisors LLC owned about 0.17% of National Energy Services Reunited worth $3,760,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NESR. Royal Bank of Canada boosted its holdings in shares of 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 during the last quarter. Legal & General Group Plc acquired a new stake in National Energy Services Reunited in the 2nd quarter worth about $34,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited in the 1st quarter worth about $48,000. Osaic Holdings Inc. purchased a new stake in National Energy Services Reunited in the 2nd quarter valued at about $73,000. Finally, State of Wyoming purchased a new stake in National Energy Services Reunited in the 4th quarter valued at about $76,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $27.90 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 42.92, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31. National Energy Services Reunited has a 12 month low of $5.91 and a 12 month high of $30.31. 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 moving average is $25.47 and its 200-day moving average is $22.12.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company’s revenue was up 33.5% compared to the same quarter last year. Equities analysts anticipate that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NESR shares. Barclays increased their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report 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 report on Tuesday. UBS Group upped their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler lifted their price target on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, BTIG Research lifted their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Buy” and an average target price of $29.43.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 over the last 90 days. Insiders own 9.70% of the company’s stock.

National Energy Services Reunited Company 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.