National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Here’s Why

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high during trading on Monday . The stock traded as high as $27.40 and last traded at $27.0940, with a volume of 15926 shares. The stock had previously closed at $26.50.

Wall Street Analyst Weigh In

Several brokerages have commented on NESR. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. UBS Group lifted their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BTIG Research lifted their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The firm’s 50 day moving average is $24.58 and its 200 day moving average is $21.06. The firm has a market cap of $2.52 billion, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company’s revenue was up 33.5% compared to the same quarter last year. As a group, analysts anticipate that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Insider Activity

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $26.13, for a total value of $27,922,335.09. Following the transaction, the director owned 2,481,649 shares in the company, valued at approximately $64,845,488.37. This represents a 30.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 3,209,604 shares of company stock valued at $84,286,865 in the last 90 days. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in National Energy Services Reunited by 373.8% during the fourth 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 period. State of Wyoming bought a new position in National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Clearstead Advisors LLC lifted its position in National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after purchasing an additional 3,171 shares during the period. Legal & General Group Plc bought a new position in National Energy Services Reunited during the second quarter valued at approximately $34,000. Finally, Acadian Asset Management LLC bought a new position in National Energy Services Reunited during the first quarter valued at approximately $48,000. Institutional investors own 15.55% of the company’s stock.

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.