National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 12.7% – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR) shares rose 12.7% on Wednesday . The company traded as high as $24.19 and last traded at $24.4370. Approximately 475,033 shares were traded during trading, a decline of 74% from the average daily volume of 1,847,111 shares. The stock had previously closed at $21.68.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NESR. Wall Street Zen lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barclays raised their price objective on shares of National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a report on Monday, January 12th. National Bank Financial set a $21.00 price objective on shares of National Energy Services Reunited in a report on Friday, January 9th. Finally, BTIG Research raised their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Stock Performance

The stock has a market capitalization of $2.46 billion, a P/E ratio of 46.36, a P/E/G ratio of 0.62 and a beta of 0.29. The company’s 50-day moving average is $21.84 and its two-hundred day moving average is $16.74. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after purchasing an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited during the 3rd quarter worth about $34,000. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited during the 1st quarter worth about $48,000. Finally, Osaic Holdings Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter worth about $73,000. 15.55% of the stock is currently owned by institutional investors.

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.