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

Shares of National Energy Services Reunited (NASDAQ:NESR) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of research analysts recently commented on NESR shares. Bank of America assumed coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Wall Street Zen lowered shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Finally, National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a research note on Friday, January 9th.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NESR. Encompass Capital Advisors LLC increased its stake in National Energy Services Reunited by 4.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock worth $55,419,000 after acquiring an additional 382,640 shares during the last quarter. Dodge & Cox grew its holdings in shares of National Energy Services Reunited by 5.6% in the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares in the last quarter. Citadel Advisors LLC bought a new stake in National Energy Services Reunited in the third quarter worth $22,722,000. Boston Partners increased its position in National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Finally, Millennium Management LLC raised its stake in National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after purchasing an additional 1,159,372 shares in the last quarter. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Trading Down 0.4%

Shares of National Energy Services Reunited stock opened at $25.05 on Wednesday. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $26.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The company has a market capitalization of $2.42 billion, a P/E ratio of 47.27, a P/E/G ratio of 0.69 and a beta of 0.17. The company has a fifty day moving average of $19.54 and a 200 day moving average of $14.40.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited had a return on equity of 8.57% and a net margin of 3.86%.National Energy Services Reunited’s revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

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.