National Energy Services Reunited (NASDAQ:NESR) Upgraded at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. BTIG Research increased their price objective 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. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group upped their price objective on National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler upped 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $29.43.

National Energy Services Reunited Price Performance

NESR stock opened at $29.93 on Monday. National Energy Services Reunited has a 1 year low of $5.90 and a 1 year high of $30.31. The firm has a market capitalization of $3.02 billion, a PE ratio of 46.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.35. 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 business has a 50 day simple moving average of $25.20 and a 200-day simple moving average of $21.89.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities research analysts anticipate that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 5,129,198 shares of company stock worth $135,731,984. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings 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 buying an additional 1,499 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at about $34,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the first quarter worth approximately $48,000. Osaic Holdings Inc. acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at approximately $73,000. Finally, State of Wyoming purchased a new stake in National Energy Services Reunited in the 4th quarter valued at $76,000. Institutional investors and hedge funds 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.