National Energy Services Reunited (NASDAQ:NESR) Posts Quarterly Earnings Results

National Energy Services Reunited (NASDAQ:NESR) issued its quarterly earnings data on Tuesday. The company reported $0.32 EPS for the quarter, FiscalAI reports. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The firm had revenue of $398.26 million for the quarter.

National Energy Services Reunited Stock Up 1.5%

Shares of NASDAQ:NESR opened at $20.83 on Tuesday. 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 firm has a market cap of $2.01 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 0.60 and a beta of 0.25. The stock’s 50-day moving average price is $17.68 and its two-hundred day moving average price is $13.23. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $21.60.

Wall Street Analyst Weigh In

NESR has been the topic of a number of recent research reports. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. BTIG Research boosted their price target on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Bank of America started coverage on National Energy Services Reunited in a research note on Friday, January 9th. They set a “buy” rating on the stock. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Finally, Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after purchasing an additional 149,796 shares during the period. Jane Street Group LLC acquired a new position in shares of National Energy Services Reunited in the 1st quarter valued at $1,425,000. Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the 1st quarter valued at $48,000. MMCAP International Inc. SPC acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter worth $3,620,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of National Energy Services Reunited in the 2nd quarter worth $350,000. 15.55% of the stock is owned by institutional investors and hedge funds.

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.