National Energy Services Reunited (NASDAQ:NESR) Rating Increased to Strong-Buy at UBS Group

National Energy Services Reunited (NASDAQ:NESR) was upgraded by analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. National Bankshares set a $21.00 price objective on shares of National Energy Services Reunited in a research report on Friday, January 9th. Piper Sandler raised their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Finally, BTIG Research boosted 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.00.

National Energy Services Reunited Trading Up 1.3%

Shares of National Energy Services Reunited stock opened at $20.10 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $20.35. The stock has a market capitalization of $1.94 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.57 and a beta of 0.23. The stock’s 50-day simple moving average is $15.54 and its 200 day simple moving average is $11.48.

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

Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds have recently made changes to their positions in the company. Encompass Capital Advisors LLC raised its stake 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 purchasing an additional 382,640 shares during the last quarter. Dodge & Cox raised its holdings in shares of National Energy Services Reunited by 5.6% during the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after buying an additional 119,100 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of National Energy Services Reunited during the third quarter valued at approximately $22,722,000. MMCAP International Inc. SPC increased its holdings in shares of National Energy Services Reunited by 40.5% in the third quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock valued at $8,671,000 after buying an additional 243,785 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of National Energy Services Reunited by 2,227.2% during 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 during the period. Hedge funds and other institutional investors 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.