Oakmont Investment Advisors Inc. Acquires New Stake in National Energy Services Reunited $NESR

Oakmont Investment Advisors Inc. acquired a new stake in National Energy Services Reunited (NASDAQ:NESR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,100 shares of the company’s stock, valued at approximately $542,000.

Other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of National Energy Services Reunited by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after buying an additional 501 shares in the last quarter. ProShare Advisors LLC grew its stake in National Energy Services Reunited by 6.9% during 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 in the last quarter. Ieq Capital LLC grew its stake in National Energy Services Reunited by 1.0% during the 4th quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock valued at $1,336,000 after acquiring an additional 842 shares in the last quarter. USA Financial Formulas raised its holdings in National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after acquiring an additional 871 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NESR. UBS Group upped their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Barclays boosted their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Finally, Piper Sandler lifted their price target on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.57.

Insider Transactions at National Energy Services Reunited

In other news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at approximately $107,962,505. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. The trade was a 89.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,440,340 shares of company stock worth $92,444,075. 9.70% of the stock is currently owned by company insiders.

National Energy Services Reunited Stock Up 0.7%

NESR stock opened at $34.75 on Friday. National Energy Services Reunited has a one year low of $9.31 and a one year high of $36.94. The firm has a market cap of $3.50 billion, a PE ratio of 37.77, a PEG ratio of 0.32 and a beta of 0.39. The firm’s 50 day moving average price is $30.61 and its 200-day moving average price is $26.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited’s revenue was up 59.1% compared to the same quarter last year. On average, equities research analysts anticipate that National Energy Services Reunited will post 1.82 EPS for the current year.

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.