National Energy Services Reunited (NASDAQ:NESR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.8571.

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday. BTIG Research upped their price objective on 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. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group upped their price objective on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In related news, Director Yousif Mohammed Ali Al-Nowais sold 81,302 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $26.35, for a total transaction of $2,142,307.70. Following the completion of the sale, the director owned 5,053,468 shares in the company, valued at approximately $133,158,881.80. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently bought and sold shares of NESR. Lazard Asset Management LLC lifted its position in shares of National Energy Services Reunited by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock valued at $2,585,000 after buying an additional 2,630 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in National Energy Services Reunited by 115.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock worth $7,189,000 after acquiring an additional 179,498 shares during the period. Public Employees Retirement System of Ohio bought a new stake in National Energy Services Reunited during the 1st quarter worth approximately $1,735,000. Arrowstreet Capital Limited Partnership raised its stake in National Energy Services Reunited by 75.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after acquiring an additional 365,217 shares during the period. Finally, Sei Investments Co. raised its stake in National Energy Services Reunited by 50.9% during the 1st quarter. Sei Investments Co. now owns 124,472 shares of the company’s stock worth $2,672,000 after acquiring an additional 42,006 shares during the period. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NASDAQ NESR opened at $25.46 on Monday. The firm’s 50-day moving average price is $22.83 and its 200-day moving average price is $19.23. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.57 billion, a PE ratio of 39.17, a PEG ratio of 0.34 and a beta of 0.38. National Energy Services Reunited has a 52-week low of $5.47 and a 52-week high of $27.25.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) 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 company had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, analysts anticipate that National Energy Services Reunited will post 1.61 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.