Oakmont Investment Advisors Inc. Takes Position in National Energy Services Reunited $NESR

Oakmont Investment Advisors Inc. bought a new position in shares of National Energy Services Reunited (NASDAQ:NESR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,100 shares of the company’s stock, valued at approximately $542,000.

Other large investors have also recently bought and sold shares of the company. Dodge & Cox raised its position in National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock worth $23,145,000 after buying an additional 119,100 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at $22,722,000. Dimensional Fund Advisors LP increased its stake in shares of National Energy Services Reunited by 103.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after acquiring an additional 997,300 shares during the period. Boston Partners raised its holdings in shares of National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Insider Activity at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. The trade was a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,440,340 shares of company stock valued at $92,444,075. 9.70% of the stock is owned by company insiders.

National Energy Services Reunited Trading Up 0.7%

NESR stock opened at $34.75 on Friday. National Energy Services Reunited has a 52-week low of $9.31 and a 52-week high of $36.94. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.50 billion, a P/E ratio of 37.77, a PEG ratio of 0.32 and a beta of 0.39. The company’s 50-day simple moving average is $30.61 and its 200-day simple moving average is $26.20.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The business’s quarterly revenue was up 59.1% on a year-over-year basis. As a group, equities analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NESR has been the subject of a number of recent research reports. Barclays lifted their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 26th. Citigroup reaffirmed a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $33.57.

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.