National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Rating of “Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.8571.

NESR has been the topic of several research analyst reports. BTIG Research upped their price objective on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings upgraded National Energy Services Reunited from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 11th. UBS Group reissued a “buy” rating and set a $47.00 target price on shares of National Energy Services Reunited in a research note on Monday. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Finally, Piper Sandler raised their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th.

Insider Activity at National Energy Services Reunited

In other news, CEO Sherif Foda sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the transaction, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction that occurred on 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 sale, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This represents a 89.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,096,488 shares of company stock valued at $57,666,533 in the last quarter. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in National Energy Services Reunited during the 2nd quarter worth about $45,000. USA Financial Formulas raised its holdings in shares of National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after purchasing an additional 871 shares in the last quarter. Allworth Financial LP raised its holdings in shares of National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after purchasing an additional 3,171 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of National Energy Services Reunited in the 1st quarter worth approximately $151,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock opened at $32.49 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 0.30 and a beta of 0.39. The stock has a 50 day moving average price of $31.53 and a 200-day moving average price of $26.76. National Energy Services Reunited has a one year low of $9.92 and a one year high of $36.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The firm had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited’s revenue was up 59.1% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.82 EPS for the current year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.