National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Should You Buy?

National Energy Services Reunited (NASDAQ:NESR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $16.07 and last traded at $15.8660, with a volume of 1105 shares changing hands. The stock had previously closed at $15.79.

Analyst Ratings Changes

Several analysts have commented on the company. BTIG Research lifted their price target on National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. National Bankshares set a $16.00 price objective on National Energy Services Reunited in a report on Tuesday, September 9th. Piper Sandler lifted their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. boosted their price target on 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.86.

National Energy Services Reunited Stock Down 1.2%

The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $14.13 and a 200 day moving average of $10.39. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 21.48 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. On average, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently made changes to their positions in NESR. Pacer Advisors Inc. bought a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at approximately $5,543,000. Boston Partners grew its position in National Energy Services Reunited by 240.0% in the 2nd quarter. Boston Partners now owns 166,945 shares of the company’s stock worth $1,005,000 after purchasing an additional 117,840 shares during the last quarter. Kazazian Asset Management LLC boosted its position in National Energy Services Reunited by 46.0% during the 2nd quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock worth $504,000 after acquiring an additional 26,350 shares during the period. CenterBook Partners LP bought a new position in National Energy Services Reunited in the 2nd quarter valued at about $4,562,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of National Energy Services Reunited during the second quarter valued at approximately $350,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

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.