Phocas Financial Corp. Invests $8.31 Million in National Energy Services Reunited $NESR

Phocas Financial Corp. bought a new stake in shares of National Energy Services Reunited (NASDAQ:NESR) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 530,741 shares of the company’s stock, valued at approximately $8,311,000. National Energy Services Reunited makes up 1.1% of Phocas Financial Corp.’s portfolio, making the stock its 25th largest position. Phocas Financial Corp. owned about 0.55% of National Energy Services Reunited at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NESR. Wealth Enhancement Advisory Services LLC lifted its stake in National Energy Services Reunited by 4.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after purchasing an additional 772 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of National Energy Services Reunited by 21.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after purchasing an additional 2,100 shares during the period. SG Americas Securities LLC raised its holdings in shares of National Energy Services Reunited by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 14,901 shares of the company’s stock worth $233,000 after buying an additional 3,040 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of National Energy Services Reunited in the 3rd quarter worth approximately $34,000. Finally, Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $34,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $22.64 on Monday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 0.62 and a beta of 0.29. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $26.85. The firm has a 50 day moving average of $21.79 and a 200-day moving average of $16.58. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm had revenue of $398.26 million during the quarter. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America began coverage on National Energy Services Reunited in a research note on Friday, January 9th. They issued a “buy” rating on the stock. Wall Street Zen lowered National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Saturday. UBS Group boosted their target price on shares of National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. Finally, National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

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.