Hsbc Holdings PLC Has $1.53 Million Stock Position in National Energy Services Reunited $NESR

Hsbc Holdings PLC boosted its holdings in National Energy Services Reunited (NASDAQ:NESR) by 47.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,033 shares of the company’s stock after buying an additional 22,835 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of National Energy Services Reunited worth $1,530,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Millennium Management LLC raised its stake in National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after purchasing an additional 149,796 shares during the last quarter. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter worth about $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter worth about $48,000. Geode Capital Management LLC increased its holdings in shares of National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited during the second quarter valued at about $34,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 5,129,198 shares of company stock worth $135,731,984 in the last three months. Corporate insiders own 9.70% of the company’s stock.

National Energy Services Reunited Trading Down 2.7%

NESR stock opened at $26.87 on Tuesday. National Energy Services Reunited has a 1-year low of $6.24 and a 1-year high of $30.31. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $26.45 and its 200-day moving average is $23.61. The firm has a market cap of $2.71 billion, a P/E ratio of 41.34, a P/E/G ratio of 0.32 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The business 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 business’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities analysts anticipate that National Energy Services Reunited will post 1.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

NESR has been the subject of a number of research reports. Piper Sandler raised their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Barclays boosted their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $32.00 target price on shares of National Energy Services Reunited in a research note on Friday, July 10th. Weiss Ratings raised 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 lifted their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, National Energy Services Reunited currently has an average rating of “Buy” and an average price target of $29.71.

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.