National Energy Services Reunited (NASDAQ:NESR) Rating Lowered to “Hold” at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. National Bank Financial set a $21.00 target price on National Energy Services Reunited in a report on Friday, January 9th. Bank of America assumed coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. BTIG Research lifted 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. UBS Group raised shares of National Energy Services Reunited to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

National Energy Services Reunited Price Performance

NESR stock opened at $20.52 on Wednesday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 0.62 and a beta of 0.25. The firm’s 50-day moving average price is $17.43 and its two-hundred day moving average price is $12.95. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $21.60.

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

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently made changes to their positions in NESR. Millennium Management LLC lifted its position in National Energy Services Reunited by 38.2% in the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after acquiring an additional 149,796 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of National Energy Services Reunited in the first quarter worth $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at $48,000. MMCAP International Inc. SPC purchased a new stake in shares of National Energy Services Reunited during the second quarter valued at $3,620,000. Finally, Los Angeles Capital Management LLC bought a new stake in National Energy Services Reunited in the 2nd quarter worth about $350,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

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.