National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

National Energy Services Reunited (NASDAQ:NESR) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $28.8571.

NESR has been the topic of several research reports. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Piper Sandler raised their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. BTIG Research raised their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. UBS Group raised their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Barclays raised their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th.

National Energy Services Reunited Trading Down 4.3%

NESR stock opened at $24.06 on Friday. The company has a market capitalization of $2.43 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35. National Energy Services Reunited has a one year low of $5.66 and a one year high of $27.25. The company’s 50 day moving average price is $24.25 and its two-hundred day moving average price is $20.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, analysts predict that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total value of $14,992,440.16. Following the transaction, the director owned 4,255,856 shares in the company, valued at approximately $111,248,075.84. This trade represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,802,428 shares of company stock valued at $47,264,488 in the last quarter. 9.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in National Energy Services Reunited in the third quarter valued at $608,000. Citigroup Inc. boosted its holdings in National Energy Services Reunited by 680.2% in the third quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock valued at $1,917,000 after acquiring an additional 162,858 shares in the last quarter. Kazazian Asset Management LLC boosted its holdings in National Energy Services Reunited by 71.7% in the third quarter. Kazazian Asset Management LLC now owns 143,650 shares of the company’s stock valued at $1,474,000 after acquiring an additional 60,000 shares in the last quarter. Oxbow Advisors LLC bought a new stake in National Energy Services Reunited in the fourth quarter valued at $4,102,000. Finally, Quantbot Technologies LP boosted its holdings in National Energy Services Reunited by 102.6% in the third quarter. Quantbot Technologies LP now owns 66,078 shares of the company’s stock valued at $678,000 after acquiring an additional 33,464 shares in the last quarter. 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.