National Energy Services Reunited (NASDAQ:NESR) Receives $28.86 Consensus PT from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $29.4286.

Several analysts recently issued reports on the company. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. UBS Group increased their price objective on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler lifted 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 report on Monday, May 18th. Finally, BTIG Research lifted their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th.

Insiders Place Their Bets

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the sale, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 5,129,198 shares of company stock worth $135,731,984. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

Several large investors have recently added to or reduced their stakes in NESR. Dodge & Cox boosted its stake in shares of National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock worth $23,145,000 after purchasing an additional 119,100 shares during the period. Citadel Advisors LLC bought a new position in National Energy Services Reunited during the 3rd quarter valued at about $22,722,000. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 997,300 shares during the period. Boston Partners raised its position 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 purchasing an additional 1,189,035 shares during the period. Finally, Millennium Management LLC lifted its stake in National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

Shares of NESR stock opened at $27.90 on Tuesday. National Energy Services Reunited has a 12 month low of $5.91 and a 12 month high of $30.31. The stock has a market cap of $2.81 billion, a P/E ratio of 42.92, a P/E/G ratio of 0.35 and a beta of 0.31. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $25.47 and a two-hundred day simple moving average of $22.12.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, research analysts expect that National Energy Services Reunited will post 1.68 earnings per share for the current 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.