National Energy Services Reunited (NASDAQ:NESR) Receives $33.57 Consensus Price Target from Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have received an average recommendation of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.5714.

A number of research firms recently commented on NESR. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barclays lifted their price target on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. UBS Group boosted their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th.

Insiders Place Their Bets

In other news, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the transaction, the chief financial officer owned 549,763 shares in the company, valued at $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. This trade represents a 89.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,797,731 shares of company stock worth $100,891,128. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently added to or reduced their stakes in NESR. Mercer Global Advisors Inc. ADV increased its holdings in National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after acquiring an additional 501 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of National Energy Services Reunited by 1.0% in the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock valued at $1,336,000 after purchasing an additional 842 shares in the last quarter. CWM LLC grew its position in shares of National Energy Services Reunited by 2.9% in the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after purchasing an additional 845 shares during the last quarter. Finally, USA Financial Formulas grew its position in shares of National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after purchasing an additional 871 shares during the last quarter. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock opened at $33.03 on Wednesday. National Energy Services Reunited has a one year low of $8.39 and a one year high of $36.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The business has a fifty day moving average of $28.82 and a two-hundred day moving average of $25.24. The company has a market cap of $3.33 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 0.31 and a beta of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $520.75 million for the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm’s revenue for the quarter was up 59.1% on a year-over-year basis. As a group, analysts predict that National Energy Services Reunited will post 1.82 earnings per share for the current fiscal year.

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.