SCF Partners Inc. Decreases Holdings in Nine Energy Service, Inc. (NYSE:NINE)

SCF Partners Inc. reduced its holdings in shares of Nine Energy Service, Inc. (NYSE:NINE) by 68.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,836,808 shares of the company’s stock after selling 6,250,076 shares during the period. Nine Energy Service makes up 4.2% of SCF Partners Inc.’s holdings, making the stock its 2nd biggest holding. SCF Partners Inc. owned 0.07% of Nine Energy Service worth $3,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of NINE. Essex Investment Management Co. LLC bought a new position in shares of Nine Energy Service in the 4th quarter valued at $127,000. Legato Capital Management LLC acquired a new position in Nine Energy Service in the 4th quarter worth about $35,000. Finally, Prudential Financial Inc. bought a new position in Nine Energy Service in the fourth quarter valued at about $32,000. 57.61% of the stock is owned by institutional investors and hedge funds.

Nine Energy Service Trading Down 6.7 %

NYSE:NINE opened at $0.97 on Monday. The stock’s 50-day moving average is $1.19 and its 200-day moving average is $1.20. Nine Energy Service, Inc. has a 1-year low of $0.75 and a 1-year high of $3.26. The stock has a market cap of $41.08 million, a P/E ratio of -0.81 and a beta of 3.10.

Nine Energy Service 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.