National Energy Services Reunited (NASDAQ:NESR) Receives Average Rating of “Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $29.7143.

Several brokerages recently weighed in on NESR. UBS Group boosted their target price on National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings raised National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. BTIG Research restated a “buy” rating and set a $32.00 price target on shares of National Energy Services Reunited in a research note on Friday, July 10th. Finally, 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.

National Energy Services Reunited Price Performance

NASDAQ NESR opened at $27.62 on Friday. The firm’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $23.48. 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 $6.24 and a 12-month high of $30.31. The firm has a market capitalization of $2.79 billion, a P/E ratio of 42.49, a P/E/G ratio of 0.32 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company’s quarterly revenue was up 33.5% on a year-over-year basis. Analysts forecast that National Energy Services Reunited will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the transaction, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. State of Wyoming purchased a new position in National Energy Services Reunited in the 4th quarter worth $76,000. Clearstead Advisors LLC raised its stake in National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after acquiring an additional 3,171 shares during the last quarter. Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the 2nd quarter worth about $34,000. Finally, Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter worth about $48,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.