National Energy Services Reunited (NASDAQ:NESR) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

NESR has been the subject of a number of other research reports. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. National Bank Financial set a $21.00 price objective on shares of National Energy Services Reunited in a research report on Friday, January 9th. BTIG Research upped their price objective on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Barclays raised their target price on shares of National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Bank of America started coverage on shares of National Energy Services Reunited in a research note on Friday, January 9th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $22.64 on Friday. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $26.85. The company has a market cap of $2.28 billion, a PE ratio of 42.72, a P/E/G ratio of 0.62 and a beta of 0.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89. The stock’s 50-day moving average is $21.79 and its 200 day moving average is $16.54.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. The business had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently modified their holdings of the business. Encompass Capital Advisors LLC grew its position in shares of 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 buying an additional 382,640 shares during the period. Dodge & Cox lifted its position in National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after acquiring an additional 119,100 shares during the period. Citadel Advisors LLC purchased a new position in National Energy Services Reunited during the 3rd quarter valued at about $22,722,000. Boston Partners boosted its stake in National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after acquiring an additional 1,189,035 shares in the last quarter. Finally, Millennium Management LLC boosted 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 worth $19,381,000 after acquiring an additional 1,159,372 shares in the last quarter. 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.