National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Should You Buy?

National Energy Services Reunited (NASDAQ:NESR)’s share price hit a new 52-week high on Friday . The stock traded as high as $27.70 and last traded at $27.1040, with a volume of 231496 shares trading hands. The stock had previously closed at $26.98.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NESR. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. BTIG Research lifted their price objective on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Piper Sandler raised their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

National Energy Services Reunited Stock Up 1.4%

The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 41.87, a PEG ratio of 0.32 and a beta of 0.35. The business’s 50-day moving average is $24.88 and its 200-day moving average is $21.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, equities analysts predict that National Energy Services Reunited will post 1.68 EPS for the current year.

Insider Activity at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.13, for a total transaction of $27,922,335.09. Following the sale, the director directly owned 2,481,649 shares in the company, valued at $64,845,488.37. This represents a 30.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 3,209,604 shares of company stock valued at $84,286,865. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares in the last quarter. Legal & General Group Plc acquired a new position in National Energy Services Reunited during the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited during the 1st quarter worth about $48,000. Osaic Holdings Inc. bought a new stake in National Energy Services Reunited during the 2nd quarter worth about $73,000. Finally, State of Wyoming acquired a new stake in National Energy Services Reunited in the 4th quarter valued at about $76,000. Institutional investors and hedge funds 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.