Posted by admin on Aug 20th, 2022
National Energy Services Reunited Corp. (NASDAQ:NESR – Get Rating) shares gapped up prior to trading on Thursday . The stock had previously closed at $6.66, but opened at $6.84. National Energy Services Reunited shares last traded at $6.89, with a volume of 597 shares.
A number of analysts have issued reports on NESR shares. National Bank of Canada reaffirmed a “sector perform” rating and issued a $11.00 target price (down from $13.50) on shares of National Energy Services Reunited in a research note on Monday, April 25th. National Bank Financial downgraded National Energy Services Reunited from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $13.50 to $11.00 in a research note on Sunday, April 24th. Finally, National Bankshares downgraded National Energy Services Reunited from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $13.50 to $10.00 in a research note on Monday, April 25th.
The business has a 50-day moving average of $6.63 and a 200-day moving average of $7.75.
A number of hedge funds and other institutional investors have recently modified their holdings of NESR. Allspring Global Investments Holdings LLC acquired a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $155,000. Qube Research & Technologies Ltd boosted its holdings in National Energy Services Reunited by 19.4% during the 4th quarter. Qube Research & Technologies Ltd now owns 18,899 shares of the company’s stock valued at $179,000 after acquiring an additional 3,069 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in National Energy Services Reunited by 13.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 843,476 shares of the company’s stock valued at $7,971,000 after acquiring an additional 100,305 shares during the period. Dimensional Fund Advisors LP boosted its holdings in National Energy Services Reunited by 17.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 766,925 shares of the company’s stock valued at $7,247,000 after acquiring an additional 112,257 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in National Energy Services Reunited by 0.7% during the 4th quarter. Lazard Asset Management LLC now owns 2,844,768 shares of the company’s stock valued at $26,883,000 after acquiring an additional 19,575 shares during the period. 42.11% of the stock is owned by institutional investors and hedge funds.
National Energy Services Reunited Corp. provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through two segments, Production Services; and Drilling and Evaluation Services. The 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 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.
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