National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week High – Time to Buy?

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high on Monday . The company traded as high as $27.40 and last traded at $27.0940, with a volume of 15926 shares traded. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. BTIG Research upped their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Barclays upped their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Piper Sandler boosted their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Trading Down 0.6%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The stock’s 50-day moving average is $24.47 and its two-hundred day moving average is $20.90. The stock has a market cap of $2.66 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. The company’s quarterly revenue was up 33.5% on a year-over-year basis. Equities research analysts anticipate that National Energy Services Reunited will post 1.68 EPS for the current year.

Insider Buying and Selling at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $26.14, for a total transaction of $14,992,440.16. Following the completion of the transaction, the director owned 4,255,856 shares in the company, valued at approximately $111,248,075.84. This represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,808,154 shares of company stock worth $47,410,676 in the last three months. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently modified their holdings of NESR. Millennium Management LLC boosted its position in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after acquiring an additional 149,796 shares during the last quarter. Jane Street Group LLC purchased a new stake in National Energy Services Reunited during the first quarter valued at $1,425,000. Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited during the first quarter valued at $48,000. Geode Capital Management LLC raised its stake in National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after purchasing an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in National Energy Services Reunited during the second quarter valued at $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.