National Energy Services Reunited (NASDAQ:NESR) Stock Gets Price Target Reduction from Barclays

National Energy Services Reunited (NASDAQ:NESR) had its target price reduced by Barclays from $41.00 to $37.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently weighed in on NESR. Wall Street Zen downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 3rd. BTIG Research lifted their price target on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. UBS Group cut their price target on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. Finally, BMO Capital Markets assumed 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 objective on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, National Energy Services Reunited has an average rating of “Moderate Buy” and an average price target of $39.12.

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $21.23 on Tuesday. The business’s 50 day moving average price is $25.44 and its 200-day moving average price is $25.57. National Energy Services Reunited has a fifty-two week low of $12.77 and a fifty-two week high of $36.94. The company has a market cap of $2.17 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.26 and a beta of 0.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 1.01.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. National Energy Services Reunited had a return on equity of 14.07% and a net margin of 6.02%. The company had revenue of $504.73 million during the quarter, compared to the consensus estimate of $495.93 million. Sell-side analysts predict that National Energy Services Reunited will post 1.66 earnings per share for the current year.

National Energy Services Reunited Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, December 3rd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, December 3rd.

Insiders Place Their Bets

In other National Energy Services Reunited news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the sale, the chief executive officer owned 3,084,643 shares in the company, valued at $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited 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 sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 176,894 shares of company stock worth $6,221,414 over the last quarter. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after buying an additional 997,300 shares in the last quarter. Walleye Capital LLC bought a new position in National Energy Services Reunited in the 1st quarter worth about $19,045,000. Arrowstreet Capital Limited Partnership grew its stake in National Energy Services Reunited by 75.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after acquiring an additional 365,217 shares in the last quarter. Voya Investment Management LLC grew its stake in National Energy Services Reunited by 16.4% in the 3rd quarter. Voya Investment Management LLC now owns 1,719,177 shares of the company’s stock worth $43,787,000 after acquiring an additional 242,014 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in shares of National Energy Services Reunited during the second quarter worth approximately $5,724,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells. The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.