National Energy Services Reunited $NESR Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 581.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,100 shares of the company’s stock after buying an additional 41,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in National Energy Services Reunited were worth $1,251,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of National Energy Services Reunited by 351.2% in the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock worth $29,000 after buying an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited during the second quarter worth about $45,000. Allworth Financial LP boosted its position in National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after acquiring an additional 649 shares during the last quarter. Sterling Capital Management LLC boosted its position in National Energy Services Reunited by 848.6% during the third quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after acquiring an additional 1,833 shares during the last quarter. Finally, USA Financial Formulas grew its stake in National Energy Services Reunited by 63.0% during 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 in the last quarter. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer owned 3,084,643 shares in the company, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 176,894 shares of company stock valued at $6,221,414 in the last quarter. Insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler cut their price objective on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, October 2nd. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Wall Street Zen cut National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Finally, Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

National Energy Services Reunited Stock Up 3.9%

NESR stock opened at $21.49 on Thursday. National Energy Services Reunited has a one year low of $12.20 and a one year high of $36.94. The firm has a market cap of $2.17 billion, a PE ratio of 23.36, a PEG ratio of 0.24 and a beta of 0.57. The firm’s 50 day moving average price is $27.15 and its 200-day moving average price is $25.54. 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. The company had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. 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 1.66 EPS for the current year.

National Energy Services Reunited Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.