National Energy Services Reunited (NASDAQ:NESR) Trading 8.4% Higher – What’s Next?

National Energy Services Reunited (NASDAQ:NESR) was up 8.4% during trading on Thursday . The company traded as high as $27.24 and last traded at $27.2850. 4,235,115 shares were traded during mid-day trading, an increase of 119% from the average session volume of 1,937,276 shares. The stock had previously closed at $25.17.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NESR shares. UBS Group raised their price target on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Piper Sandler raised 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 note on Monday, May 18th. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Trading Up 4.7%

The firm has a market capitalization of $2.85 billion, a PE ratio of 43.45, a P/E/G ratio of 0.34 and a beta of 0.35. The firm has a 50 day simple moving average of $24.98 and a 200 day simple moving average of $21.63. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

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

Insider Buying and Selling

In related news, Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of National Energy Services Reunited stock in a transaction dated Saturday, June 13th. The stock was sold at an average price of $26.90, for a total value of $8,953,853.30. Following the completion of the sale, the director directly owned 2,148,792 shares in the company, valued at approximately $57,802,504.80. This trade represents a 13.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 3,209,604 shares of company stock valued at $84,286,865. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of National Energy Services Reunited

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of National Energy Services Reunited by 21.4% in the first quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock worth $12,826,000 after acquiring an additional 105,205 shares during the period. Empowered Funds LLC lifted its position in National Energy Services Reunited by 9.3% during the first quarter. Empowered Funds LLC now owns 491,009 shares of the company’s stock valued at $10,542,000 after purchasing an additional 41,741 shares during the period. Lazard Asset Management LLC lifted its position in National Energy Services Reunited by 2.2% during the first quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock valued at $2,585,000 after purchasing an additional 2,630 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in National Energy Services Reunited by 115.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock worth $7,189,000 after purchasing an additional 179,498 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in National Energy Services Reunited in the first quarter worth approximately $1,735,000. Hedge funds and other 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.