SCF Partners Inc. Buys Shares of 7,991,677 National Energy Services Reunited Corp. (NASDAQ:NESR)

SCF Partners Inc. purchased a new position in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,991,677 shares of the company’s stock, valued at approximately $71,605,000. National Energy Services Reunited makes up approximately 95.8% of SCF Partners Inc.’s holdings, making the stock its biggest holding. SCF Partners Inc. owned approximately 0.08% of National Energy Services Reunited at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $41,000. National Bank of Canada FI bought a new stake in National Energy Services Reunited during the fourth quarter valued at about $74,000. Robotti Robert purchased a new position in National Energy Services Reunited in the fourth quarter valued at about $90,000. Arrowstreet Capital Limited Partnership bought a new position in National Energy Services Reunited in the fourth quarter worth about $107,000. Finally, Sei Investments Co. purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at $328,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Benchmark started coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 price target for the company. Barclays lifted their target price on shares of National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th.

National Energy Services Reunited Stock Down 12.0 %

NESR opened at $6.21 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. National Energy Services Reunited Corp. has a fifty-two week low of $5.91 and a fifty-two week high of $10.30. The company has a fifty day moving average of $8.44 and a two-hundred day moving average of $8.75. The stock has a market capitalization of $596.45 million, a price-to-earnings ratio of 7.76 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $343.68 million for the quarter, compared to analyst estimates of $339.84 million. On average, research analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

National Energy Services Reunited Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.