Penn Capital Management Company LLC Increases Holdings in National Energy Services Reunited $NESR

Penn Capital Management Company LLC grew its holdings in shares of National Energy Services Reunited (NASDAQ:NESR) by 40.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,322 shares of the company’s stock after buying an additional 29,352 shares during the period. Penn Capital Management Company LLC’s holdings in National Energy Services Reunited were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC lifted its holdings in National Energy Services Reunited by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock worth $175,000 after buying an additional 719 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in National Energy Services Reunited by 4.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after buying an additional 772 shares during the last quarter. CWM LLC lifted its holdings in National Energy Services Reunited by 2.9% during the 4th quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after buying an additional 845 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in National Energy Services Reunited by 21.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock worth $125,000 after buying an additional 2,100 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in National Energy Services Reunited by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 14,901 shares of the company’s stock worth $233,000 after buying an additional 3,040 shares during the last quarter. 15.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 457,391 shares of National Energy Services Reunited stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.12, for a total value of $11,947,052.92. Following the sale, the director owned 3,555,968 shares of the company’s stock, valued at approximately $92,881,884.16. The trade was a 11.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,802,428 shares of company stock valued at $47,264,488. 9.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

NESR has been the subject of a number of recent analyst reports. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. UBS Group lifted their target price on National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BTIG Research lifted their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Piper Sandler lifted their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Barclays lifted their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, National Energy Services Reunited has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $25.24 on Thursday. The stock has a market capitalization of $2.55 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.34 and a beta of 0.38. National Energy Services Reunited has a 52-week low of $5.47 and a 52-week high of $27.25. The stock’s 50-day moving average price is $23.68 and its 200 day moving average price is $19.96. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, equities research analysts forecast that National Energy Services Reunited will post 1.64 EPS 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.