National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 9.7% – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR) was up 9.7% during trading on Tuesday. The stock traded as high as $20.58 and last traded at $20.8270. Approximately 2,643,852 shares were traded during trading, an increase of 26% from the average session volume of 2,094,231 shares. The stock had previously closed at $18.98.

Analyst Upgrades and Downgrades

NESR has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. BMO Capital Markets started coverage on shares of National Energy Services Reunited in a research report on Thursday, October 1st. They issued an “outperform” rating and a $39.00 price target for the company. BTIG Research raised their target price on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 10th. Capital One Financial began coverage on National Energy Services Reunited in a research report on Wednesday, September 30th. They set an “overweight” rating and a $44.00 price objective for the company. Finally, Piper Sandler reduced their price target on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Eight research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

National Energy Services Reunited Stock Up 10.3%

The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 0.22 and a beta of 0.48. The firm has a fifty day moving average price of $30.42 and a 200 day moving average price of $27.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

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. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million for the quarter, compared to analysts’ expectations of $448.54 million. The firm’s revenue for the quarter was up 59.1% on a year-over-year basis. As a group, sell-side analysts expect that National Energy Services Reunited will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the sale, the director owned 696,398 shares of the company’s stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 549,763 shares in the company, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 176,894 shares of company stock worth $6,221,414. Company insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in National Energy Services Reunited during the third quarter worth $211,000. GK Wealth Management LLC acquired a new stake in National Energy Services Reunited in the third quarter valued at $88,000. Farther Finance Advisors LLC increased its position in shares of National Energy Services Reunited by 351.2% in the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after buying an additional 885 shares in the last quarter. Arlington Capital Management Inc. purchased a new position in shares of National Energy Services Reunited in the second quarter valued at $424,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of National Energy Services Reunited during the 2nd quarter worth $45,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.