National Energy Services Reunited $NESR Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in National Energy Services Reunited (NASDAQ:NESR) by 581.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 49,100 shares of the company’s stock after purchasing an additional 41,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in National Energy Services Reunited were worth $1,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NESR. Dimensional Fund Advisors LP lifted its stake in National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after purchasing an additional 997,300 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth $19,045,000. Arrowstreet Capital Limited Partnership grew its stake in shares of National Energy Services Reunited by 75.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock valued at $18,176,000 after buying an additional 365,217 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of National Energy Services Reunited by 39.2% in the second quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock valued at $14,265,000 after buying an additional 134,316 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of National Energy Services Reunited by 21.4% in the first quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock valued at $12,826,000 after buying an additional 105,205 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Insider Buying and Selling at National Energy Services Reunited

In other news, CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 176,894 shares of company stock valued at $6,221,414 in the last quarter. Corporate insiders own 9.70% of the company’s stock.

National Energy Services Reunited Stock Up 3.9%

National Energy Services Reunited stock opened at $21.49 on Thursday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 23.36, a P/E/G ratio of 0.24 and a beta of 0.57. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a twelve month low of $12.20 and a twelve month high of $36.94. The stock’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $25.54.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited’s revenue for the quarter was up 59.1% on a year-over-year basis. As a group, equities analysts expect that National Energy Services Reunited will post 1.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

NESR has been the topic of several research reports. BMO Capital Markets began coverage on National Energy Services Reunited in a research note on Thursday, October 1st. They set an “outperform” rating and a $39.00 target price on the stock. UBS Group dropped their target price on National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 29th. Capital One Financial began coverage on shares of National Energy Services Reunited in a research note on Wednesday, September 30th. They set an “overweight” rating and a $44.00 price target on the stock. BTIG Research increased their price target on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen cut shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.38.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.