National Energy Services Reunited $NESR Shares Sold by Fort Baker Capital Management LP

Fort Baker Capital Management LP decreased its stake in National Energy Services Reunited (NASDAQ:NESR) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,717,834 shares of the company’s stock after selling 970,103 shares during the period. National Energy Services Reunited makes up 1.8% of Fort Baker Capital Management LP’s portfolio, making the stock its 16th biggest position. Fort Baker Capital Management LP’s holdings in National Energy Services Reunited were worth $10,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NESR. Penn Capital Management Company LLC grew its position in National Energy Services Reunited by 111.9% in the first quarter. Penn Capital Management Company LLC now owns 87,630 shares of the company’s stock valued at $645,000 after acquiring an additional 46,276 shares in the last quarter. Kazazian Asset Management LLC boosted its stake in shares of National Energy Services Reunited by 46.0% in the second quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock valued at $504,000 after purchasing an additional 26,350 shares during the period. Boston Partners grew its holdings in National Energy Services Reunited by 240.0% during the 2nd quarter. Boston Partners now owns 166,945 shares of the company’s stock valued at $1,005,000 after purchasing an additional 117,840 shares in the last quarter. Interval Partners LP acquired a new stake in National Energy Services Reunited during the 1st quarter valued at $585,000. Finally, CenterBook Partners LP purchased a new stake in National Energy Services Reunited during the 2nd quarter worth $4,562,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $14.89 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $15.10. The company has a fifty day moving average price of $12.86 and a two-hundred day moving average price of $9.40. The company has a market cap of $1.44 billion, a PE ratio of 20.40 and a beta of 0.27.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The company had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. Research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

NESR has been the subject of a number of analyst reports. National Bankshares set a $16.00 price objective on shares of National Energy Services Reunited in a research report on Tuesday, September 9th. Maxim Group began coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target for the company. Zacks Research upgraded National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Wall Street Zen upgraded National Energy Services Reunited from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler lifted their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, National Energy Services Reunited currently has an average rating of “Moderate Buy” and an average target price of $16.86.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.