Dimensional Fund Advisors LP Buys 997,300 Shares of National Energy Services Reunited $NESR

Dimensional Fund Advisors LP grew its stake in National Energy Services Reunited (NASDAQ:NESR) by 103.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,960,587 shares of the company’s stock after buying an additional 997,300 shares during the period. Dimensional Fund Advisors LP’s holdings in National Energy Services Reunited were worth $42,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at about $747,000. Oxbow Advisors LLC purchased a new stake in National Energy Services Reunited in the 4th quarter worth approximately $4,102,000. HITE Hedge Asset Management LLC increased its holdings in National Energy Services Reunited by 43.7% in the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock worth $14,398,000 after acquiring an additional 279,543 shares in the last quarter. Phocas Financial Corp. bought a new stake in National Energy Services Reunited during the 4th quarter worth approximately $8,311,000. Finally, Calamos Advisors LLC bought a new stake in National Energy Services Reunited during the 1st quarter worth approximately $1,671,000. Institutional investors own 15.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NESR. BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of National Energy Services Reunited in a report on Friday, July 10th. UBS Group raised their price objective on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Piper Sandler upped their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.71.

Insider Activity

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the transaction, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 5,129,198 shares of company stock valued at $135,731,984. 9.70% of the stock is owned by company insiders.

National Energy Services Reunited Stock Up 3.0%

Shares of NASDAQ:NESR opened at $27.78 on Tuesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 0.31 and a beta of 0.33. National Energy Services Reunited has a 12 month low of $6.24 and a 12 month high of $30.31. 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 company has a 50-day moving average price of $26.49 and a 200 day moving average price of $23.92.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share 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 firm’s revenue was up 33.5% compared to the same quarter last year. As a group, equities research analysts predict that National Energy Services Reunited will post 1.74 earnings per share for the current year.

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.