Kazazian Asset Management LLC Buys 60,000 Shares of National Energy Services Reunited $NESR

Kazazian Asset Management LLC grew its stake in National Energy Services Reunited (NASDAQ:NESR) by 71.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,650 shares of the company’s stock after buying an additional 60,000 shares during the quarter. National Energy Services Reunited makes up 1.8% of Kazazian Asset Management LLC’s portfolio, making the stock its 12th biggest holding. Kazazian Asset Management LLC owned 0.15% of National Energy Services Reunited worth $1,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Dodge & Cox increased its holdings in National Energy Services Reunited by 201.6% in the 2nd quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock worth $12,864,000 after acquiring an additional 1,428,200 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the period. CenterBook Partners LP bought a new position in shares of National Energy Services Reunited in the second quarter worth approximately $4,562,000. MMCAP International Inc. SPC purchased a new stake in shares of National Energy Services Reunited in the second quarter worth $3,620,000. Finally, Pacer Advisors Inc. bought a new stake in shares of National Energy Services Reunited during the 3rd quarter valued at $5,543,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NESR has been the topic of a number of analyst reports. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Maxim Group set a $30.00 price objective on National Energy Services Reunited in a research report on Monday, January 12th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Barclays lifted their target price on National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, National Bank Financial set a $21.00 price target on National Energy Services Reunited in a research note on Friday, January 9th. Seven equities research 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 company has an average rating of “Moderate Buy” and a consensus target price of $26.00.

National Energy Services Reunited Trading Up 0.8%

Shares of National Energy Services Reunited stock opened at $24.40 on Friday. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $25.21. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $18.43 and a 200-day moving average price of $13.69. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 0.69 and a beta of 0.25.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.57% and a net margin of 3.86%.National Energy Services Reunited’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal 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.