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

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $28.8571.

A number of equities analysts have recently weighed in on NESR shares. UBS Group boosted their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th.

Insider Transactions at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 457,391 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.12, for a total value of $11,947,052.92. Following the completion of the sale, the director directly owned 3,555,968 shares in the company, valued at approximately $92,881,884.16. The trade was a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,802,428 shares of company stock valued at $47,264,488 in the last ninety days. 9.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in 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 purchasing an additional 105,205 shares during the period. Empowered Funds LLC grew its holdings 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 period. Lazard Asset Management LLC grew its holdings in National Energy Services Reunited by 2.2% in the first quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock valued at $2,585,000 after purchasing an additional 2,630 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in National Energy Services Reunited by 115.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock valued at $7,189,000 after purchasing an additional 179,498 shares during the period. 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.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $25.33 on Friday. The firm has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $20.44. 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 has a market cap of $2.55 billion, a PE ratio of 38.97, a P/E/G ratio of 0.33 and a beta of 0.35. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $27.25.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during 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 business’s quarterly revenue was up 33.5% on a year-over-year basis. On average, equities analysts expect that National Energy Services Reunited will post 1.64 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.