Encompass Capital Advisors LLC Trims Stock Position in National Energy Services Reunited $NESR

Encompass Capital Advisors LLC decreased its stake in National Energy Services Reunited (NASDAQ:NESR) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,103,284 shares of the company’s stock after selling 2,102,603 shares during the period. National Energy Services Reunited accounts for 4.5% of Encompass Capital Advisors LLC’s portfolio, making the stock its 6th largest position. Encompass Capital Advisors LLC owned approximately 0.07% of National Energy Services Reunited worth $111,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of National Energy Services Reunited by 373.8% in the 4th 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. State of Wyoming bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $76,000. Clearstead Advisors LLC lifted its holdings 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 worth $77,000 after purchasing an additional 3,171 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited in the 2nd quarter worth approximately $34,000. Finally, Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter worth approximately $48,000. Institutional investors own 15.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BTIG Research raised their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Barclays raised their price target on 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 National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, 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. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Stock Down 3.7%

Shares of NESR stock opened at $24.02 on Thursday. National Energy Services Reunited has a 1 year low of $5.66 and a 1 year high of $27.69. The stock has a market cap of $2.42 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.35. The business’s fifty day moving average is $24.64 and its 200-day moving average is $21.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating 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 firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the firm’s stock in a transaction on Saturday, June 13th. The stock was sold at an average price of $26.90, for a total transaction of $8,953,853.30. Following the completion of the sale, the director directly owned 2,148,792 shares of the company’s stock, valued at $57,802,504.80. This trade represents a 13.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 3,209,604 shares of company stock worth $84,286,865. 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.