Principal Financial Group Inc. Invests $608,000 in National Energy Services Reunited $NESR

Principal Financial Group Inc. acquired a new stake in National Energy Services Reunited (NASDAQ:NESR) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 59,257 shares of the company’s stock, valued at approximately $608,000.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in shares of National Energy Services Reunited in the 3rd quarter valued at $5,543,000. Kazazian Asset Management LLC grew its position in shares of National Energy Services Reunited by 46.0% during the 2nd quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock valued at $504,000 after acquiring an additional 26,350 shares during the period. Boston Partners increased its position in shares of National Energy Services Reunited by 240.0% in the second quarter. Boston Partners now owns 166,945 shares of the company’s stock valued at $1,005,000 after buying an additional 117,840 shares in the last quarter. CenterBook Partners LP acquired a new position in National Energy Services Reunited during the second quarter worth $4,562,000. Finally, Russell Investments Group Ltd. raised its position in shares of National Energy Services Reunited by 109.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 444,885 shares of the company’s stock worth $2,678,000 after purchasing an additional 232,830 shares during the last quarter. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Trading Down 1.9%

Shares of NESR opened at $24.20 on Friday. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $25.21. The firm has a market capitalization of $2.33 billion, a P/E ratio of 45.66, a PEG ratio of 0.70 and a beta of 0.25. The firm’s 50-day moving average is $18.24 and its two-hundred day moving average is $13.51. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.57%. National Energy Services Reunited’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NESR. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. UBS Group upped their price target on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price objective on shares of National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler lifted their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Finally, Bank of America began coverage on National Energy Services Reunited in a research report on Friday, January 9th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.