National Energy Services Reunited (NASDAQ:NESR) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

National Energy Services Reunited (NASDAQ:NESR) posted its quarterly earnings results on Monday. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02, FiscalAI reports. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The company had revenue of $504.73 million during the quarter, compared to analysts’ expectations of $495.93 million.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $19.96 on Monday. The firm has a market capitalization of $2.01 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 0.23 and a beta of 0.57. The business’s 50-day moving average price is $26.56 and its two-hundred day moving average price is $25.55. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 12 month low of $12.21 and a 12 month high of $36.94.

Insider Buying and Selling

In related news, Director Mejia Antonio J. Campo sold 63,324 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the sale, the director owned 696,398 shares of the company’s stock, valued at $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 176,894 shares of company stock valued at $6,221,414 over the last ninety days. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wall Street Zen downgraded National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 3rd. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Barclays reduced their price target on shares of National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th. Piper Sandler lowered their price objective on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, BMO Capital Markets began coverage on shares of National Energy Services Reunited in a research note on Thursday, October 1st. They issued an “outperform” rating and a $39.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.38.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.

The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.