National Energy Services Reunited’s (NESR) “Buy” Rating Reiterated at BTIG Research

National Energy Services Reunited (NASDAQ:NESR)‘s stock had its “buy” rating restated by BTIG Research in a research note issued to investors on Friday,Benzinga reports. They presently have a $32.00 price objective on the stock. BTIG Research’s target price indicates a potential upside of 14.78% from the stock’s previous close.

Several other analysts have also commented on the stock. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Piper Sandler increased their price objective on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group lifted their target price on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Barclays upped their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, National Energy Services Reunited has an average rating of “Buy” and an average target price of $29.43.

National Energy Services Reunited Price Performance

Shares of NESR stock opened at $27.88 on Friday. 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 $25.72 and its two-hundred day moving average is $22.54. National Energy Services Reunited has a 12 month low of $5.91 and a 12 month high of $30.31. The company has a market capitalization of $2.81 billion, a PE ratio of 42.89, a price-to-earnings-growth ratio of 0.35 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating 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 analyst estimates of $370.87 million. The firm’s revenue was up 33.5% compared to the same quarter last year. Analysts predict that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Insider Buying and Selling at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction dated 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 transaction, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 5,129,198 shares of company stock valued at $135,731,984 over the last ninety days. Insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in shares of National Energy Services Reunited during the third quarter worth about $22,722,000. Boston Partners grew its holdings in shares of National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after purchasing an additional 1,189,035 shares in the last quarter. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after purchasing an additional 1,159,372 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after buying an additional 997,300 shares during the period. Finally, Walleye Capital LLC purchased a new stake in National Energy Services Reunited during the 1st quarter worth approximately $19,045,000. 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.