Long Focus Capital Management LLC Decreases Position in National Energy Services Reunited $NESR

Long Focus Capital Management LLC decreased its position in National Energy Services Reunited (NASDAQ:NESR) by 29.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 350,000 shares of the company’s stock after selling 147,921 shares during the period. Long Focus Capital Management LLC owned about 0.36% of National Energy Services Reunited worth $3,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NESR. Encompass Capital Advisors LLC increased its position in National Energy Services Reunited by 4.3% in the second quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock worth $55,419,000 after buying an additional 382,640 shares during the last quarter. Dodge & Cox lifted its position in shares of National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after buying an additional 119,100 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of National Energy Services Reunited during the 3rd quarter worth $22,722,000. MMCAP International Inc. SPC increased its holdings in National Energy Services Reunited by 40.5% in the 3rd quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock worth $8,671,000 after acquiring an additional 243,785 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after acquiring an additional 780,180 shares during the last quarter. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Stock Up 7.7%

Shares of NASDAQ NESR opened at $20.61 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.08 billion, a P/E ratio of 38.89, a P/E/G ratio of 0.52 and a beta of 0.17. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $26.85. The business has a 50-day simple moving average of $20.86 and a two-hundred day simple moving average of $15.43.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 for the quarter. The company’s revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on NESR shares. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. BTIG Research lifted their target price on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a research note on Friday, January 9th. Bank of America began coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. Finally, UBS Group lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average 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.