National Energy Services Reunited (NASDAQ:NESR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $16.8571.

Several analysts have recently commented on NESR shares. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Zacks Research raised National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Maxim Group assumed coverage on National Energy Services Reunited in a research report on Tuesday, September 9th. They set a “buy” rating and a $16.00 target price for the company. Finally, National Bankshares set a $16.00 price target on National Energy Services Reunited in a report on Tuesday, September 9th.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew its stake in National Energy Services Reunited by 21.2% during the third quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after acquiring an additional 2,100 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in National Energy Services Reunited in the 3rd quarter worth $34,000. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. purchased a new position in shares of National Energy Services Reunited during the second quarter valued at about $37,000. Finally, Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the first quarter worth about $48,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Trading Up 2.1%

Shares of NASDAQ:NESR opened at $16.12 on Tuesday. The stock has a 50 day moving average of $14.20 and a 200 day moving average of $10.46. The company has a market cap of $1.55 billion, a PE ratio of 22.08 and a beta of 0.23. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $16.34. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22.

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

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.