National Energy Services Reunited (NASDAQ:NESR) Raised to Strong-Buy at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Maxim Group set a $30.00 target price on National Energy Services Reunited in a report on Monday, January 12th. Piper Sandler lifted their price target on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Barclays increased their price objective on National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Finally, Bank of America initiated coverage on shares of National Energy Services Reunited in a research report on Friday, January 9th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $26.00.

National Energy Services Reunited Stock Down 0.7%

Shares of NASDAQ NESR opened at $19.14 on Thursday. The stock has a market cap of $1.93 billion, a P/E ratio of 36.11, a PEG ratio of 0.53 and a beta of 0.18. The business’s fifty day simple moving average is $20.77 and its 200-day simple moving average is $15.25. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $26.85. The company has a current ratio of 1.04, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm had revenue of $398.26 million during the quarter. National Energy Services Reunited’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several large investors have recently modified their holdings of NESR. Citadel Advisors LLC acquired a new stake in shares of National Energy Services Reunited in the third quarter valued at approximately $22,722,000. Dodge & Cox increased its stake in National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after purchasing an additional 1,428,200 shares during the period. Boston Partners raised its holdings in shares of National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after buying an additional 1,189,035 shares during the last quarter. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 1,482.3% during the fourth 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after buying an additional 780,180 shares during the last quarter. 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.