Shay Capital LLC Takes Position in National Energy Services Reunited Corp. (NASDAQ:NESR)

Shay Capital LLC acquired 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 & Exchange Commission. The fund acquired 115,000 shares of the company’s stock, valued at approximately $1,030,000. Shay Capital LLC owned approximately 0.12% of National Energy Services Reunited at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $285,000. Millennium Management LLC acquired a new position in National Energy Services Reunited in the fourth quarter valued at $3,515,000. GeoSphere Capital Management LLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at about $10,443,000. Fort Baker Capital Management LP purchased a new stake in National Energy Services Reunited during the fourth quarter worth approximately $27,670,000. Finally, Encompass Capital Advisors LLC acquired a new stake in National Energy Services Reunited in the 4th quarter valued at $79,108,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Benchmark began coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective on the stock. Barclays upped their price target on National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th.

National Energy Services Reunited Trading Up 1.7%

National Energy Services Reunited stock opened at $6.63 on Friday. National Energy Services Reunited Corp. has a 52-week low of $5.20 and a 52-week high of $10.00. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $636.78 million, a price-to-earnings ratio of 8.29 and a beta of 0.42. The firm has a 50-day moving average price of $6.73 and a two-hundred day moving average price of $8.12.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Sell-side analysts expect that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

National Energy Services Reunited Company 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.