Tejara Capital Ltd Purchases New Holdings in National Energy Services Reunited Corp. (NASDAQ:NESR)

Tejara Capital Ltd bought a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 401,765 shares of the company's stock, valued at approximately $3,600,000. National Energy Services Reunited accounts for 2.3% of Tejara Capital Ltd's investment portfolio, making the stock its 16th largest holding. Tejara Capital Ltd owned about 0.42% of National Energy Services Reunited at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NESR. HITE Hedge Asset Management LLC purchased a new position in National Energy Services Reunited in the third quarter valued at $6,645,000. Iridian Asset Management LLC CT purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $1,378,000. Finally, R Squared Ltd purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $41,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NESR. JPMorgan Chase & Co. began coverage on National Energy Services Reunited in a report on Friday, December 6th. They set an "overweight" rating and a $13.00 price target for the company. Barclays lifted their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Finally, Benchmark began coverage on National Energy Services Reunited in a research report on Tuesday, January 21st. They set a "buy" rating and a $15.00 target price on the stock.

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National Energy Services Reunited Stock Performance

Shares of NESR traded down $0.03 during midday trading on Friday, reaching $7.97. 274,907 shares of the stock were exchanged, compared to its average volume of 130,303. The business's 50-day moving average price is $8.77 and its 200 day moving average price is $8.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. National Energy Services Reunited Corp. has a twelve month low of $7.21 and a twelve month high of $10.30. The company has a market capitalization of $760.71 million, a price-to-earnings ratio of 9.96 and a beta of 0.63.

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

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.