National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $34.00

National Energy Services Reunited (NASDAQ:NESR) had its price objective raised by Barclays from $33.00 to $34.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a report on Friday, January 9th. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Bank of America started coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They set a “buy” rating on the stock. Finally, UBS Group boosted their target price on shares of National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.00.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $23.10 on Friday. The company’s fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $18.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $26.85. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 0.35 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts anticipate that National Energy Services Reunited will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its position in National Energy Services Reunited by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after acquiring an additional 501 shares in the last quarter. ProShare Advisors LLC grew its position in National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock worth $175,000 after acquiring an additional 719 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in National Energy Services Reunited by 4.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after acquiring an additional 772 shares in the last quarter. Ieq Capital LLC grew its position in National Energy Services Reunited by 1.0% in the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after acquiring an additional 842 shares in the last quarter. Finally, CWM LLC grew its position in National Energy Services Reunited by 2.9% in the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after acquiring an additional 845 shares in the last quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.