ExodusPoint Capital Management LP Makes New $7.10 Million Investment in National Energy Services Reunited Corp. (NASDAQ:NESR)

ExodusPoint Capital Management LP purchased a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 792,178 shares of the company’s stock, valued at approximately $7,098,000. ExodusPoint Capital Management LP owned about 0.83% of National Energy Services Reunited at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NESR. R Squared Ltd purchased a new position in National Energy Services Reunited during the fourth quarter worth about $41,000. National Bank of Canada FI purchased a new stake in shares of National Energy Services Reunited during the 4th quarter valued at approximately $74,000. Robotti Robert acquired a new position in National Energy Services Reunited in the fourth quarter valued at approximately $90,000. Arrowstreet Capital Limited Partnership purchased a new position in National Energy Services Reunited in the fourth quarter worth approximately $107,000. Finally, Sei Investments Co. acquired a new stake in National Energy Services Reunited during the fourth quarter worth $328,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Wall Street Analyst Weigh In

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

National Energy Services Reunited Stock Down 12.0 %

NASDAQ:NESR opened at $6.21 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $596.45 million, a price-to-earnings ratio of 7.76 and a beta of 0.35. National Energy Services Reunited Corp. has a 52 week low of $5.91 and a 52 week high of $10.30. The stock’s fifty day moving average is $8.44 and its two-hundred day moving average is $8.76.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $343.68 million for the quarter, compared to analysts’ expectations of $339.84 million. Research analysts anticipate 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.