Tejara Capital Ltd Takes $3.60 Million Position in National Energy Services Reunited Corp. (NASDAQ:NESR)

Tejara Capital Ltd bought a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 401,765 shares of the company’s stock, valued at approximately $3,600,000. National Energy Services Reunited accounts for approximately 2.3% of Tejara Capital Ltd’s investment portfolio, making the stock its 16th largest holding.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at $41,000. Iridian Asset Management LLC CT purchased a new stake in shares of National Energy Services Reunited during the fourth quarter worth $1,378,000. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the third quarter worth $6,645,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock opened at $7.69 on Tuesday. 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 one year low of $7.21 and a one year high of $10.30. The company’s fifty day moving average price is $8.84 and its two-hundred day moving average price is $8.95.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $343.68 million for the quarter, compared to analyst estimates of $339.84 million. As a group, analysts anticipate that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on National Energy Services Reunited in a report on Friday, December 6th. They set an “overweight” rating and a $13.00 price objective for the company. Benchmark assumed coverage on National Energy Services Reunited in a report on Tuesday, January 21st. They set a “buy” rating and a $15.00 price objective for the company. Finally, Barclays increased their price objective on National Energy Services Reunited from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th.

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.