National Energy Services Reunited $NESR Shares Acquired by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC increased its stake in shares of National Energy Services Reunited (NASDAQ:NESR) by 4.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,205,887 shares of the company’s stock after buying an additional 382,640 shares during the quarter. National Energy Services Reunited accounts for about 2.0% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Encompass Capital Advisors LLC owned approximately 0.10% of National Energy Services Reunited worth $55,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NESR. Legal & General Group Plc purchased a new stake in National Energy Services Reunited during the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. purchased a new position in shares of National Energy Services Reunited in the second quarter worth about $37,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited during the first quarter worth about $48,000. EntryPoint Capital LLC purchased a new stake in National Energy Services Reunited in the first quarter valued at approximately $81,000. Finally, Trexquant Investment LP acquired a new position in National Energy Services Reunited in the 1st quarter worth approximately $89,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $14.89 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The stock’s fifty day moving average is $12.86 and its two-hundred day moving average is $9.40. The firm has a market capitalization of $1.44 billion, a P/E ratio of 20.40 and a beta of 0.27. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $15.10.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $295.32 million for the quarter, compared to analyst estimates of $292.46 million. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%. On average, research analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on NESR. BTIG Research upped their price objective on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Zacks Research upgraded shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Maxim Group assumed coverage on National Energy Services Reunited in a research report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target on the stock. National Bankshares set a $16.00 target price on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. Finally, Wall Street Zen raised National Energy Services Reunited from a “hold” rating to a “buy” rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, National Energy Services Reunited has an average rating of “Moderate Buy” and an average target price of $16.86.

About National Energy Services Reunited

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.