National Energy Services Reunited (NASDAQ:NESR) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

Several other research firms also recently weighed in on NESR. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. National Bankshares set a $21.00 price objective on National Energy Services Reunited in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. BTIG Research increased their target price on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, National Energy Services Reunited currently has an average rating of “Moderate Buy” and a consensus target price of $17.57.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $17.64 on Friday. The business’s 50 day moving average is $14.51 and its two-hundred day moving average is $10.78. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $18.00. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 24.16 and a beta of 0.23. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 5.53% and a return on equity of 8.24%. Analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in National Energy Services Reunited during the 3rd quarter worth $34,000. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the second quarter worth about $34,000. Ameritas Investment Partners Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth about $37,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited in the 1st quarter worth about $48,000. Finally, Osaic Holdings Inc. bought a new stake in National Energy Services Reunited in the 2nd quarter valued at about $73,000. Institutional investors and hedge funds 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.