National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Here’s Why

National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high on Monday . The company traded as high as $25.34 and last traded at $25.2620, with a volume of 160620 shares. The stock had previously closed at $24.40.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NESR. Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Piper Sandler upped their price target on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. BTIG Research lifted their price objective on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Barclays raised their target price on shares of National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

National Energy Services Reunited Trading Up 1.3%

The company has a market cap of $2.58 billion, a P/E ratio of 50.39, a P/E/G ratio of 0.71 and a beta of 0.25. The business’s 50-day moving average price is $18.90 and its 200 day moving average price is $14.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.57%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after purchasing an additional 1,499 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited during the 3rd quarter worth about $34,000. State of Wyoming bought a new stake in shares of National Energy Services Reunited during the 4th quarter worth about $76,000. Clearstead Advisors LLC grew 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 valued at $77,000 after buying an additional 3,171 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter valued at about $34,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

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.