SCF Partners Inc. Buys New Stake in National Energy Services Reunited Corp. (NASDAQ:NESR)

SCF Partners Inc. acquired a new position in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,991,677 shares of the company's stock, valued at approximately $71,605,000. National Energy Services Reunited accounts for 95.8% of SCF Partners Inc.'s holdings, making the stock its largest holding. SCF Partners Inc. owned 8.37% of National Energy Services Reunited at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in National Energy Services Reunited during the fourth quarter valued at $41,000. National Bank of Canada FI purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth about $74,000. Robotti Robert bought a new position in National Energy Services Reunited in the 4th quarter worth about $90,000. Arrowstreet Capital Limited Partnership purchased a new stake in National Energy Services Reunited during the 4th quarter valued at about $107,000. Finally, Sei Investments Co. bought a new stake in National Energy Services Reunited during the 4th quarter valued at about $328,000. 15.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NESR shares. Benchmark started coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They issued a "buy" rating and a $15.00 target price on the stock. Barclays increased their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th.

National Energy Services Reunited Stock Performance

Shares of NESR traded down $0.08 during mid-day trading on Friday, hitting $5.96. 278,693 shares of the company traded hands, compared to its average volume of 145,856. The stock has a market cap of $572.43 million, a price-to-earnings ratio of 7.45 and a beta of 0.35. The stock has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $8.61. National Energy Services Reunited Corp. has a 1 year low of $5.20 and a 1 year high of $10.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. The business had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Equities analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

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.