National Energy Services Reunited (NASDAQ:NESR) Given Consensus Rating of “Moderate Buy” by Analysts

National Energy Services Reunited (NASDAQ:NESR) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $26.8571.

Several brokerages have issued reports on NESR. Barclays increased their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday. BTIG Research increased 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 research report on Monday, May 11th. Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group increased their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 81,302 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $26.35, for a total transaction of $2,142,307.70. Following the completion of the sale, the director owned 5,053,468 shares of the company’s stock, valued at approximately $133,158,881.80. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after purchasing an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited in the third quarter worth about $34,000. Legal & General Group Plc bought a new stake in National Energy Services Reunited in the second quarter valued at about $34,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the first quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. acquired a new stake in National Energy Services Reunited during the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Stock Down 2.0%

Shares of NASDAQ:NESR opened at $25.46 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 52-week low of $5.47 and a 52-week high of $27.25. The company has a 50 day moving average of $22.83 and a two-hundred day moving average of $19.18. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 0.35 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, analysts forecast that National Energy Services Reunited will post 1.61 earnings per share for the current fiscal year.

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.