Hsbc Holdings PLC Buys Shares of 48,198 National Energy Services Reunited $NESR

Hsbc Holdings PLC bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 48,198 shares of the company’s stock, valued at approximately $747,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in shares of National Energy Services Reunited in the third quarter valued at about $22,722,000. Boston Partners grew its position in National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares during the period. Millennium Management LLC grew its position in National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares during the period. Geode Capital Management LLC increased its holdings in 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 valued at $4,908,000 after buying an additional 780,180 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $12,208,000. 15.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company’s stock in a transaction 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 sale, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,129,198 shares of company stock valued at $135,731,984 over the last ninety days. Insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NESR. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Piper Sandler raised their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $32.00 price objective on shares of National Energy Services Reunited in a report on Friday, July 10th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Finally, UBS Group upped their target price on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, National Energy Services Reunited presently has an average rating of “Buy” and an average target price of $29.71.

National Energy Services Reunited Trading Up 3.9%

Shares of NESR opened at $29.29 on Wednesday. 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 firm has a 50 day simple moving average of $25.97 and a 200-day simple moving average of $22.83. National Energy Services Reunited has a 1-year low of $5.91 and a 1-year high of $30.31. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 45.06, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities analysts forecast that National Energy Services Reunited will post 1.71 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.