Kazazian Asset Management LLC Acquires 60,000 Shares of National Energy Services Reunited $NESR

Kazazian Asset Management LLC lifted its holdings in National Energy Services Reunited (NASDAQ:NESR) by 71.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 143,650 shares of the company’s stock after buying an additional 60,000 shares during the period. National Energy Services Reunited makes up about 1.8% of Kazazian Asset Management LLC’s portfolio, making the stock its 12th biggest holding. Kazazian Asset Management LLC’s holdings in National Energy Services Reunited were worth $1,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Millennium Management LLC grew its position in National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after acquiring an additional 149,796 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at approximately $1,425,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at approximately $48,000. MMCAP International Inc. SPC purchased a new position in shares of National Energy Services Reunited in the 2nd quarter worth approximately $3,620,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of National Energy Services Reunited during the 2nd quarter valued at approximately $350,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NESR. Maxim Group set a $30.00 price target on National Energy Services Reunited in a research report on Monday, January 12th. 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. Barclays lifted their price target on shares of National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.00.

National Energy Services Reunited Stock Up 0.8%

Shares of NESR opened at $24.40 on Friday. The firm has a fifty day moving average price of $18.43 and a 200-day moving average price of $13.69. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2.35 billion, a P/E ratio of 46.04, a P/E/G ratio of 0.69 and a beta of 0.25. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $25.21.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The company 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%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current year.

National Energy Services Reunited Company 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.