National Energy Services Reunited (NASDAQ:NESR) Given Average Rating of “Moderate Buy” by Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $28.8571.

Several brokerages have issued reports on NESR. BTIG Research raised their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. UBS Group raised their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Barclays raised their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th.

National Energy Services Reunited Stock Up 0.9%

Shares of NASDAQ NESR opened at $28.49 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 12-month low of $5.78 and a 12-month high of $28.60. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 0.36 and a beta of 0.35. The firm’s 50-day moving average price is $25.08 and its 200-day moving average price is $21.78.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $404.59 million during the quarter, compared to the consensus estimate 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 revenue was up 33.5% on a year-over-year basis. On average, equities research analysts anticipate that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the sale, the director owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,129,198 shares of company stock valued at $135,731,984 over the last ninety days. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On National Energy Services Reunited

A number of institutional investors have recently modified their holdings of NESR. Millennium Management LLC increased its position in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after acquiring an additional 149,796 shares during the period. Jane Street Group LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth approximately $1,425,000. Acadian Asset Management LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth approximately $48,000. Geode Capital Management LLC increased its position in shares of National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after acquiring an additional 780,180 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited during the second quarter worth approximately $34,000. 15.55% of the stock is 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.