Analysts Set National Energy Services Reunited (NASDAQ:NESR) Price Target at $29.71

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $29.7143.

A number of equities research analysts have weighed in on NESR shares. UBS Group raised their price target on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Barclays upped their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, Piper Sandler boosted their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 in the last quarter. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after purchasing an additional 149,796 shares during the last quarter. Jane Street Group LLC purchased a new stake in National Energy Services Reunited during the first quarter valued at about $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at about $48,000. Geode Capital Management LLC grew its stake in shares of National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after buying an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited in the second quarter worth about $34,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $24.41 on Friday. The firm’s fifty day moving average price is $26.42 and its 200-day moving average price is $23.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. The stock has a market cap of $2.46 billion, a P/E ratio of 37.55, a price-to-earnings-growth ratio of 0.30 and a beta of 0.31. National Energy Services Reunited has a fifty-two week low of $6.24 and a fifty-two week high of $30.31.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities research analysts expect that National Energy Services Reunited will post 1.74 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.