National Energy Services Reunited (NASDAQ:NESR) Sets New 12-Month High – Here’s Why

National Energy Services Reunited (NASDAQ:NESR) reached a new 52-week high during trading on Monday . The company traded as high as $21.29 and last traded at $21.2010, with a volume of 104397 shares changing hands. The stock had previously closed at $20.87.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NESR shares. UBS Group raised shares of National Energy Services Reunited to a “strong-buy” rating in a research note on Wednesday, January 21st. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. BTIG Research lifted their price objective on 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. Piper Sandler increased their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Finally, Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $21.00.

National Energy Services Reunited Trading Up 0.3%

The business’s 50-day simple moving average is $16.91 and its 200-day simple moving average is $12.64. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 0.60 and a beta of 0.25. 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 (NASDAQ:NESR) last posted its earnings results 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 return on equity of 8.24% and a net margin of 5.53%.The firm had revenue of $295.32 million for the quarter, compared to analyst estimates of $292.46 million. Research analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clearstead Advisors LLC boosted its stake in National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after buying an additional 3,171 shares during the last quarter. ProShare Advisors LLC increased its position in National Energy Services Reunited by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock worth $175,000 after purchasing an additional 719 shares during the last quarter. Oxbow Advisors LLC acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $4,102,000. UBS Group AG increased its holdings in shares of National Energy Services Reunited by 54.3% during the 4th quarter. UBS Group AG now owns 331,182 shares of the company’s stock worth $5,186,000 after buying an additional 116,588 shares during the last quarter. Finally, CWM LLC increased its stake in National Energy Services Reunited by 2.9% during the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after acquiring an additional 845 shares during the last quarter. 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.