Covestor Ltd Makes New Investment in National Energy Services Reunited $NESR

Covestor Ltd purchased a new position in shares of National Energy Services Reunited (NASDAQ:NESR) in the third quarter, Holdings Channel.com reports. The firm purchased 41,196 shares of the company’s stock, valued at approximately $422,000.

Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited in the third quarter worth approximately $34,000. Legal & General Group Plc acquired a new stake in National Energy Services Reunited in the second quarter valued at approximately $34,000. Ameritas Investment Partners Inc. bought a new stake in National Energy Services Reunited in the second quarter worth approximately $37,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the 1st quarter worth $48,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of National Energy Services Reunited by 92.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company’s stock valued at $104,000 after purchasing an additional 8,337 shares in the last quarter. Institutional investors own 15.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NESR. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. BTIG Research upped their price target on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Bank of America assumed coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.00.

National Energy Services Reunited Trading Up 8.2%

Shares of National Energy Services Reunited stock opened at $19.84 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 0.53 and a beta of 0.23. The company’s fifty day simple moving average is $15.42 and its 200-day simple moving average is $11.42. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $20.36.

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

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.