Panagora Asset Management Inc. Purchases Shares of 48,801 National Energy Services Reunited $NESR

Panagora Asset Management Inc. purchased a new stake in National Energy Services Reunited (NASDAQ:NESR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,801 shares of the company’s stock, valued at approximately $294,000.

A number of other hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in National Energy Services Reunited in the second quarter valued at approximately $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited in the 2nd quarter worth approximately $37,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at $48,000. EntryPoint Capital LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at $81,000. Finally, Trexquant Investment LP acquired a new stake in shares of National Energy Services Reunited during the first quarter worth $89,000. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $14.87 on Monday. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $14.99. The stock’s 50 day moving average is $12.42 and its 200-day moving average is $9.14. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 20.37 and a beta of 0.27.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The business had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. Sell-side analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NESR. BTIG Research upped their price target on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their target price on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Zacks Research upgraded National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Wall Street Zen cut National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and a consensus price target 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.