National Energy Services Reunited (NASDAQ:NESR) Stock Has Average Price Target of $38.44

National Energy Services Reunited (NASDAQ:NESR) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $40.88.

Several analysts have issued reports on the company. Capital One Financial started coverage on National Energy Services Reunited in a report on Wednesday, September 30th. They set an “overweight” rating and a $44.00 price target for the company. Barclays raised their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Wall Street Zen cut National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Weiss Ratings cut National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Finally, Piper Sandler cut their price objective on National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday, October 2nd.

Insiders Place Their Bets

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the sale, the director directly owned 696,398 shares of the company’s stock, valued at approximately $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 176,894 shares of company stock worth $6,221,414. Company insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. Farther Finance Advisors LLC lifted its stake in shares of National Energy Services Reunited by 351.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after buying an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in National Energy Services Reunited in the 2nd quarter worth $45,000. USA Financial Formulas increased its stake in National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after buying an additional 871 shares in the last quarter. Allworth Financial LP increased its stake in National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after buying an additional 649 shares in the last quarter. Finally, GK Wealth Management LLC bought a new stake in National Energy Services Reunited during the third quarter valued at about $88,000. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Trading Down 2.0%

Shares of National Energy Services Reunited stock opened at $22.78 on Thursday. The company’s fifty day simple moving average is $31.62 and its 200-day simple moving average is $27.46. The stock has a market capitalization of $2.30 billion, a PE ratio of 24.76, a P/E/G ratio of 0.27 and a beta of 0.48. National Energy Services Reunited has a 1-year low of $10.01 and a 1-year high of $36.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. The business’s revenue was up 59.1% on a year-over-year basis. As a group, equities analysts anticipate that National Energy Services Reunited will post 1.65 earnings per share for the current year.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.