Russell Investments Group Ltd. Acquires Shares of 199,839 National Energy Services Reunited Corp. (NASDAQ:NESR)

Russell Investments Group Ltd. purchased a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 199,839 shares of the company’s stock, valued at approximately $1,791,000. Russell Investments Group Ltd. owned approximately 0.21% of National Energy Services Reunited at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of National Energy Services Reunited during the 4th quarter worth approximately $41,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited in the 4th quarter valued at $74,000. Robotti Robert bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $90,000. Arrowstreet Capital Limited Partnership bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $107,000. Finally, Sei Investments Co. acquired a new position in shares of National Energy Services Reunited during the 4th quarter worth $328,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $6.03 on Friday. The company has a market capitalization of $579.16 million, a price-to-earnings ratio of 7.54 and a beta of 0.35. National Energy Services Reunited Corp. has a twelve month low of $5.20 and a twelve month high of $10.30. The stock has a fifty day simple moving average of $7.61 and a 200 day simple moving average of $8.48. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (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 EPS for the current year.

Wall Street Analyst Weigh In

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

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.