National Energy Services Reunited (NASDAQ:NESR) Stock Rating Upgraded by Wall Street Zen

National Energy Services Reunited (NASDAQ:NESR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 8th. Zacks Research upgraded shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. upped their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. BTIG Research lifted their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Piper Sandler boosted their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.86.

National Energy Services Reunited Stock Down 0.4%

NASDAQ NESR opened at $14.89 on Friday. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $15.10. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 20.40 and a beta of 0.27. The stock’s 50 day moving average is $12.86 and its two-hundred day moving average is $9.44. 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 posted its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. Equities analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Encompass Capital Advisors LLC raised its position in shares of National Energy Services Reunited by 4.3% during the second quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock worth $55,419,000 after acquiring an additional 382,640 shares during the last quarter. Dodge & Cox increased its position in National Energy Services Reunited by 5.6% in the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock worth $23,145,000 after purchasing an additional 119,100 shares during the period. Citadel Advisors LLC acquired a new stake in National Energy Services Reunited in the third quarter worth about $22,722,000. MMCAP International Inc. SPC raised its holdings in National Energy Services Reunited by 40.5% during the 3rd quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock worth $8,671,000 after purchasing an additional 243,785 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after purchasing an additional 780,180 shares during the period. 15.55% of the stock is currently owned by institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.