National Energy Services Reunited (NASDAQ:NESR) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a buy rating to a hold rating in a research report report published on Sunday.

Other equities analysts have also recently issued reports about the company. Maxim Group started coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target for the company. Zacks Research raised shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. lifted their price target on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 15th. Finally, National Bankshares set a $16.00 price objective on shares of National Energy Services Reunited in a research report on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited presently has an average rating of “Moderate Buy” and an average target price of $16.86.

National Energy Services Reunited Stock Up 1.6%

Shares of NASDAQ NESR opened at $14.72 on Friday. The company has a market capitalization of $1.42 billion, a P/E ratio of 20.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. The company has a 50 day simple moving average of $13.30 and a 200-day simple moving average of $9.74. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $15.10.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $295.32 million for the quarter, compared to analysts’ expectations of $292.46 million. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%. On average, equities research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NESR. Encompass Capital Advisors LLC increased its stake in National Energy Services Reunited by 4.3% during the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock worth $55,419,000 after buying an additional 382,640 shares during the period. Dodge & Cox grew its stake in shares of 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 acquiring an additional 119,100 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of National Energy Services Reunited during the third quarter worth $22,722,000. MMCAP International Inc. SPC increased its position in shares of National Energy Services Reunited by 40.5% during the third quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock worth $8,671,000 after acquiring an additional 243,785 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after acquiring an additional 780,180 shares in the last quarter. 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.