National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.8571.

Several equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. UBS Group boosted their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total value of $14,992,440.16. Following the completion of the transaction, the director owned 4,255,856 shares of the company’s stock, valued at $111,248,075.84. The trade was a 11.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,808,154 shares of company stock valued at $47,410,676. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dodge & Cox grew its stake in National Energy Services Reunited by 5.6% in the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock worth $23,145,000 after buying an additional 119,100 shares in the last quarter. Citadel Advisors LLC purchased a new position in National Energy Services Reunited in the 3rd quarter worth approximately $22,722,000. Dimensional Fund Advisors LP grew its stake in National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after buying an additional 997,300 shares in the last quarter. Boston Partners grew its stake in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares in the last quarter. Finally, Millennium Management LLC grew its stake in National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $24.86 on Friday. The company has a 50 day moving average of $24.38 and a 200 day moving average of $20.81. The stock has a market cap of $2.51 billion, a P/E ratio of 38.25, a P/E/G ratio of 0.31 and a beta of 0.35. National Energy Services Reunited has a 12 month low of $5.66 and a 12 month high of $27.25. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts forecast that National Energy Services Reunited will post 1.64 EPS for the current fiscal year.

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.