SCF Partners Inc. Invests $71.61 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

SCF Partners Inc. bought a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,991,677 shares of the company’s stock, valued at approximately $71,605,000. National Energy Services Reunited accounts for about 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd bought a new stake in National Energy Services Reunited during the 4th quarter valued at approximately $41,000. Iridian Asset Management LLC CT purchased a new position in National Energy Services Reunited during the fourth quarter valued at $1,378,000. Tejara Capital Ltd bought a new position in shares of National Energy Services Reunited in the 4th quarter worth about $3,600,000. Sei Investments Co. purchased a new position in National Energy Services Reunited during the 4th quarter valued at about $328,000. Finally, JPMorgan Chase & Co. bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $394,000. Institutional investors own 15.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NESR. Benchmark began coverage on National Energy Services Reunited in a research note on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company. Barclays increased their price objective on shares of 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 Stock Performance

NASDAQ:NESR opened at $6.21 on Monday. National Energy Services Reunited Corp. has a 52-week low of $5.91 and a 52-week high of $10.30. The firm has a market capitalization of $596.45 million, a PE ratio of 7.76 and a beta of 0.35. The stock has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $8.75. 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) last issued its 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 business had revenue of $343.68 million for the quarter, compared to the consensus estimate of $339.84 million. Analysts forecast that National Energy Services Reunited Corp. will post 1.03 EPS 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.