National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $16.00

National Energy Services Reunited (NASDAQ:NESR) had its price objective raised by equities research analysts at BTIG Research from $12.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 15.21% from the company’s previous close.

NESR has been the subject of several other reports. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Maxim Group initiated coverage on shares of National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target for the company. Zacks Research raised shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Finally, National Bankshares set a $16.00 target price on National Energy Services Reunited in a research note on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, National Energy Services Reunited currently has an average rating of “Moderate Buy” and an average price target of $16.29.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR traded up $0.86 during mid-day trading on Thursday, reaching $13.89. The company’s stock had a trading volume of 1,719,259 shares, compared to its average volume of 598,939. The stock has a 50-day moving average of $11.08 and a two-hundred day moving average of $8.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11. The stock has a market capitalization of $1.34 billion, a P/E ratio of 17.95 and a beta of 0.38. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $14.50.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. On average, equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited in the third quarter valued at approximately $34,000. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $37,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter worth $48,000. Finally, Osaic Holdings Inc. purchased a new stake in National Energy Services Reunited in the second quarter valued at $73,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.