Hsbc Holdings PLC Invests $747,000 in National Energy Services Reunited $NESR

Hsbc Holdings PLC acquired a new stake in National Energy Services Reunited (NASDAQ:NESR) in the fourth quarter, HoldingsChannel reports. The firm acquired 48,198 shares of the company’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Dodge & Cox lifted its stake in shares of National Energy Services Reunited by 5.6% during the third 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 period. Citadel Advisors LLC purchased a new stake in National Energy Services Reunited in the 3rd quarter worth approximately $22,722,000. Boston Partners raised its holdings in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after acquiring an additional 1,189,035 shares during the last quarter. Millennium Management LLC raised its holdings in National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after acquiring an additional 1,159,372 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of National Energy Services Reunited by 153.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 963,287 shares of the company’s stock worth $15,085,000 after purchasing an additional 583,898 shares during the period. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Barclays lifted their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, UBS Group upped their price objective on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, National Energy Services Reunited currently has an average rating of “Buy” and an average price target of $29.71.

Insider Activity at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This trade represents a 89.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 5,129,198 shares of company stock valued at $135,731,984. Company insiders own 9.70% of the company’s stock.

National Energy Services Reunited Trading Up 3.9%

Shares of NESR opened at $29.29 on Wednesday. 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 firm has a market capitalization of $2.95 billion, a P/E ratio of 45.06, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31. The stock’s fifty day simple moving average is $25.97 and its 200 day simple moving average is $22.83. National Energy Services Reunited has a twelve month low of $5.91 and a twelve month high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. The business’s revenue was up 33.5% compared to the same quarter last year. On average, equities research analysts forecast that National Energy Services Reunited will post 1.71 earnings per share for the current year.

About National Energy Services Reunited

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.