XTX Topco Ltd Makes New Investment in National Energy Services Reunited (NASDAQ:NESR)

XTX Topco Ltd purchased a new position in shares of National Energy Services Reunited (NASDAQ:NESR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,597 shares of the company’s stock, valued at approximately $115,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NESR. Encompass Capital Advisors LLC bought a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $79,108,000. Fort Baker Capital Management LP bought a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $27,670,000. Balyasny Asset Management L.P. bought a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $20,330,000. GeoSphere Capital Management LLC bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $10,443,000. Finally, Diameter Capital Partners LP bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $8,142,000. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Stock Down 3.0%

NASDAQ NESR opened at $6.89 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90. The company’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $6.99. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89. The company has a market capitalization of $664.54 million, a P/E ratio of 8.51 and a beta of 0.39.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). National Energy Services Reunited had a net margin of 5.87% and a return on equity of 10.96%. The firm had revenue of $303.10 million for the quarter, compared to analyst estimates of $304.68 million. Equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NESR. Piper Sandler began coverage on shares of National Energy Services Reunited in a report on Monday, July 14th. They issued an “overweight” rating and a $11.00 target price on the stock. Wall Street Zen upgraded shares of National Energy Services Reunited from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $14.20.

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.