Calamos Advisors LLC Invests $1.67 Million in National Energy Services Reunited $NESR

Calamos Advisors LLC purchased a new position in shares of National Energy Services Reunited (NASDAQ:NESR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 77,807 shares of the company’s stock, valued at approximately $1,671,000.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of National Energy Services Reunited by 373.8% during the fourth 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. Legal & General Group Plc purchased a new position in National Energy Services Reunited in the second quarter valued at about $34,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the first quarter worth $48,000. Osaic Holdings Inc. acquired a new position in shares of National Energy Services Reunited during the 2nd quarter worth $73,000. Finally, State of Wyoming acquired a new position in National Energy Services Reunited during the fourth quarter worth about $76,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Barclays lifted their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Wall Street Zen raised 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 price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.71.

National Energy Services Reunited Trading Down 1.4%

Shares of NASDAQ:NESR opened at $28.89 on Thursday. The firm has a market cap of $2.91 billion, a P/E ratio of 44.45, a P/E/G ratio of 0.36 and a beta of 0.31. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a twelve month low of $5.91 and a twelve month high of $30.31. The company has a 50 day moving average of $26.05 and a 200-day moving average of $22.92.

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. As a group, analysts anticipate that National Energy Services Reunited will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited 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 transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 5,129,198 shares of company stock worth $135,731,984. 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.