Millennium Management LLC Takes $3.52 Million Position in National Energy Services Reunited Corp. (NASDAQ:NESR)

Millennium Management LLC bought a new stake in National Energy Services Reunited Corp. (NASDAQ:NESR) in the fourth quarter, HoldingsChannel reports. The fund bought 392,339 shares of the company’s stock, valued at approximately $3,515,000.

A number of other large investors have also modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $49,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $74,000. TD Waterhouse Canada Inc. acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $89,000. Finally, Robotti Robert acquired a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $90,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on National Energy Services Reunited from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th.

National Energy Services Reunited Trading Down 3.6%

Shares of NESR opened at $6.18 on Friday. The company has a market capitalization of $596.08 million, a P/E ratio of 7.73 and a beta of 0.42. National Energy Services Reunited Corp. has a one year low of $5.20 and a one year high of $9.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. The stock has a 50-day moving average price of $6.37 and a 200 day moving average price of $7.91.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, March 12th. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $343.68 million during the quarter, compared to analysts’ expectations of $339.84 million. Sell-side analysts forecast that National Energy Services Reunited Corp. will post 1.03 EPS for the current fiscal 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.