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

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

A number of other research analysts have also weighed in on NESR. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. BTIG Research boosted their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Barclays upped their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Piper Sandler upped their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, May 18th. 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, National Energy Services Reunited currently has a consensus rating of “Buy” and a consensus price target of $29.43.

National Energy Services Reunited Stock Up 5.1%

Shares of National Energy Services Reunited stock opened at $29.93 on Monday. The company has a market cap of $3.02 billion, a P/E ratio of 46.05, a PEG ratio of 0.36 and a beta of 0.35. The firm has a fifty day moving average of $25.20 and a two-hundred day moving average of $21.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. National Energy Services Reunited has a one year low of $5.90 and a one year high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, analysts forecast that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the sale, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 5,129,198 shares of company stock valued at $135,731,984. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position 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 valued at $12,826,000 after buying an additional 105,205 shares during the last quarter. Empowered Funds LLC increased its stake in National Energy Services Reunited by 9.3% in 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 last quarter. Lazard Asset Management LLC boosted its stake in National Energy Services Reunited by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock worth $2,585,000 after buying an additional 2,630 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of 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 valued at $7,189,000 after acquiring 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 valued at approximately $1,735,000. 15.55% of the stock is currently owned by hedge funds and other 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.