Wall Street Zen Upgrades National Energy Services Reunited (NASDAQ:NESR) to “Buy”

National Energy Services Reunited (NASDAQ:NESR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also recently commented on the stock. National Bankshares set a $16.00 target price on shares of National Energy Services Reunited in a report on Tuesday, September 9th. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday. Maxim Group started coverage on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Zacks Research upgraded National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.86.

National Energy Services Reunited Stock Down 0.4%

NASDAQ NESR opened at $14.89 on Friday. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $15.10. The company has a market capitalization of $1.44 billion, a P/E ratio of 20.40 and a beta of 0.27. The company’s 50 day simple moving average is $12.86 and its 200 day simple moving average is $9.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%. Equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in shares of National Energy Services Reunited by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 212,055 shares of the company’s stock valued at $1,561,000 after acquiring an additional 12,216 shares in the last quarter. Boston Partners purchased a new stake in shares of National Energy Services Reunited during the first quarter worth $361,000. HITE Hedge Asset Management LLC boosted its position in National Energy Services Reunited by 7.6% during the first quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company’s stock valued at $5,757,000 after purchasing an additional 55,004 shares during the last quarter. EntryPoint Capital LLC purchased a new position in National Energy Services Reunited in the first quarter valued at about $81,000. Finally, Jump Financial LLC acquired a new position in National Energy Services Reunited in the 1st quarter worth about $133,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.