National Energy Services Reunited (NASDAQ:NESR) Shares Up 7.1% – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR)’s share price traded up 7.1% during trading on Monday . The company traded as high as $20.64 and last traded at $20.4950. 623,722 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,761,038 shares. The stock had previously closed at $19.14.

Wall Street Analyst Weigh In

NESR has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Wall Street Zen raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Saturday. National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a research note on Friday, January 9th. BTIG Research increased their price target on National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, Piper Sandler lifted their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. One equities research 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 stock. Based on data from MarketBeat, National Energy Services Reunited currently has a consensus rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Stock Up 6.8%

The business has a fifty day moving average price of $20.77 and a two-hundred day moving average price of $15.34. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 0.52 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm had revenue of $398.26 million during the quarter. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at about $22,722,000. Dodge & Cox increased its stake in National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after purchasing an additional 1,428,200 shares in the last quarter. Boston Partners raised its holdings 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 period. Millennium Management LLC boosted its position in shares of 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 worth $19,381,000 after purchasing an additional 1,159,372 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of National Energy Services Reunited by 2,227.2% in the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after buying an additional 780,180 shares during the period. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.