SCF Partners Inc. Sells 6,250,076 Shares of Nine Energy Service, Inc. (NYSE:NINE)

SCF Partners Inc. decreased its holdings in Nine Energy Service, Inc. (NYSE:NINE) by 68.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,836,808 shares of the company’s stock after selling 6,250,076 shares during the period. Nine Energy Service comprises approximately 4.2% of SCF Partners Inc.’s investment portfolio, making the stock its 2nd biggest holding. SCF Partners Inc. owned approximately 6.70% of Nine Energy Service worth $3,177,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. acquired a new stake in Nine Energy Service during the fourth quarter worth approximately $32,000. Legato Capital Management LLC bought a new position in shares of Nine Energy Service during the fourth quarter worth approximately $35,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Nine Energy Service during the 4th quarter worth approximately $127,000. 57.61% of the stock is owned by institutional investors and hedge funds.

Nine Energy Service Price Performance

Shares of NYSE NINE opened at $0.97 on Monday. The firm has a market cap of $41.08 million, a price-to-earnings ratio of -0.81 and a beta of 3.10. The stock’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.20. Nine Energy Service, Inc. has a one year low of $0.75 and a one year high of $3.26.

Nine Energy Service Company Profile

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.