GeoSphere Capital Management LLC Has $22.16 Million Stock Holdings in National Energy Services Reunited $NESR

GeoSphere Capital Management LLC lessened its position in National Energy Services Reunited (NASDAQ:NESR) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,415,124 shares of the company’s stock after selling 73,573 shares during the quarter. National Energy Services Reunited accounts for 7.3% of GeoSphere Capital Management LLC’s portfolio, making the stock its largest position. GeoSphere Capital Management LLC’s holdings in National Energy Services Reunited were worth $22,161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NESR. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited in the 3rd quarter worth about $34,000. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited in the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter worth about $48,000. Osaic Holdings Inc. bought a new stake in shares of National Energy Services Reunited in the 2nd quarter worth about $73,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after acquiring an additional 3,171 shares during the last quarter. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $25.76 on Monday. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $27.25. The company has a 50-day moving average of $23.32 and a 200 day moving average of $19.68. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 0.33 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. The company’s quarterly revenue was up 33.5% on a year-over-year basis. On average, research analysts expect that National Energy Services Reunited will post 1.64 EPS for the current year.

Insider Activity at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total value of $14,992,440.16. Following the completion of the sale, the director owned 4,255,856 shares in the company, valued at approximately $111,248,075.84. The trade was a 11.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 1,102,540 shares of company stock valued at $28,978,563. Insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

NESR has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, May 18th. BTIG Research lifted their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Barclays lifted their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.86.

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.