National Energy Services Reunited (NASDAQ:NESR) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on NESR. Bank of America assumed coverage on shares of National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. National Bankshares set a $21.00 price objective on National Energy Services Reunited in a research report on Friday, January 9th. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a report on Monday. Finally, BTIG Research raised their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.57.

National Energy Services Reunited Price Performance

Shares of NESR traded down $0.02 on Tuesday, reaching $18.27. The stock had a trading volume of 76,444 shares, compared to its average volume of 1,063,193. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $18.61. The firm has a market capitalization of $1.76 billion, a PE ratio of 25.03, a PEG ratio of 0.51 and a beta of 0.23. The firm has a 50-day moving average of $14.84 and a 200 day moving average of $10.99. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $295.32 million during 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%. Sell-side analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Encompass Capital Advisors LLC lifted its position in 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 valued at $55,419,000 after buying an additional 382,640 shares in the last quarter. Dodge & Cox raised its stake in shares of National Energy Services Reunited by 5.6% in the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after acquiring an additional 119,100 shares during the period. Citadel Advisors LLC acquired a new position in shares of National Energy Services Reunited during the 3rd quarter valued at $22,722,000. MMCAP International Inc. SPC boosted its position 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 period. Finally, Geode Capital Management LLC increased its holdings in National Energy Services Reunited by 2,227.2% in 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 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.