Dodge & Cox Invests $6.88 Million in National Energy Services Reunited Corp. (NASDAQ:NESR)

Dodge & Cox purchased a new stake in shares of National Energy Services Reunited Corp. (NASDAQ:NESR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 768,089 shares of the company’s stock, valued at approximately $6,882,000.

Several other large investors have also recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of National Energy Services Reunited in the fourth quarter worth $41,000. National Bank of Canada FI acquired a new position in National Energy Services Reunited in the 4th quarter worth about $74,000. Robotti Robert purchased a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $90,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of National Energy Services Reunited during the 4th quarter valued at about $107,000. Finally, Sei Investments Co. bought a new stake in shares of National Energy Services Reunited in the 4th quarter valued at approximately $328,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Down 0.5 %

National Energy Services Reunited stock opened at $5.86 on Wednesday. The firm has a market cap of $562.83 million, a price-to-earnings ratio of 7.33 and a beta of 0.35. The firm has a fifty day moving average price of $7.89 and a two-hundred day moving average price of $8.56. National Energy Services Reunited Corp. has a fifty-two week low of $5.20 and a fifty-two week high of $10.30. 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 (NASDAQ:NESR) last released its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $343.68 million during the quarter, compared to analyst estimates of $339.84 million. As a group, analysts forecast that National Energy Services Reunited Corp. will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark started coverage on shares of National Energy Services Reunited in a research report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 target price 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 report on Thursday, March 13th.

National Energy Services Reunited 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.