National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR) reached a new 52-week high during trading on Monday . The stock traded as high as $21.29 and last traded at $21.2010, with a volume of 104397 shares changing hands. The stock had previously closed at $20.87.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NESR shares. BTIG Research raised their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. National Bankshares set a $21.00 price objective on National Energy Services Reunited in a research note on Friday, January 9th. Piper Sandler increased their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $21.00.

National Energy Services Reunited Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The stock’s fifty day moving average is $16.91 and its two-hundred day moving average is $12.64. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 0.60 and a beta of 0.25.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $295.32 million during the quarter, compared to analysts’ expectations of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. On average, analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after buying an additional 149,796 shares during the period. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited in the first quarter valued at approximately $1,425,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the first quarter valued at approximately $48,000. MMCAP International Inc. SPC bought a new stake in National Energy Services Reunited during the second quarter worth approximately $3,620,000. Finally, Los Angeles Capital Management LLC acquired a new stake in National Energy Services Reunited in the second quarter worth approximately $350,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.