National Energy Services Reunited (NASDAQ:NESR) Receives $28.86 Average PT from Analysts

National Energy Services Reunited (NASDAQ:NESR) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $29.4286.

Several research analysts have recently commented on the company. Barclays lifted their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Finally, BTIG Research upped their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th.

Insider Activity at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 5,129,198 shares of company stock worth $135,731,984. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of National Energy Services Reunited by 38.2% during the first 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 during the period. Jane Street Group LLC bought a new stake in National Energy Services Reunited in the 1st quarter valued at $1,425,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited in the 1st quarter valued at $48,000. Geode Capital Management LLC grew 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 buying an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in National Energy Services Reunited during the 2nd quarter worth $34,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

Shares of NESR stock traded up $0.76 on Tuesday, reaching $28.39. The stock had a trading volume of 650,510 shares, compared to its average volume of 2,003,196. National Energy Services Reunited has a 12 month low of $5.91 and a 12 month high of $30.31. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 0.35 and a beta of 0.31. The firm’s 50-day moving average is $25.55 and its two-hundred day moving average is $22.26. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business’s revenue was up 33.5% compared to the same quarter last year. On average, research analysts expect that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

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.