National Energy Services Reunited (NASDAQ:NESR) Given Average Recommendation of “Buy” by Brokerages

National Energy Services Reunited (NASDAQ:NESR) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.00.

Several analysts recently issued reports on NESR shares. Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Piper Sandler raised their price target 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. JPMorgan Chase & Co. raised their target price 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. National Bankshares set a $21.00 price target on shares of National Energy Services Reunited in a report on Friday, January 9th. Finally, UBS Group upgraded National Energy Services Reunited to a “strong-buy” rating in a research note on Wednesday, January 21st.

National Energy Services Reunited Stock Performance

Shares of National Energy Services Reunited stock opened at $20.45 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 0.60 and a beta of 0.25. The stock’s 50-day moving average is $16.65 and its 200-day moving average is $12.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. National Energy Services Reunited has a one year low of $5.20 and a one year high of $21.05.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. Equities analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several hedge funds and other institutional investors have recently bought and sold shares of NESR. Millennium Management LLC grew its position in shares of National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after purchasing an additional 149,796 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of National Energy Services Reunited in the first quarter valued at approximately $1,425,000. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the first quarter valued at approximately $48,000. MMCAP International Inc. SPC acquired a new stake in National Energy Services Reunited during the second quarter worth approximately $3,620,000. Finally, Los Angeles Capital Management LLC bought a new position in National Energy Services Reunited during the 2nd quarter worth $350,000. 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.