National Energy Services Reunited (NASDAQ:NESR) Raised to “Strong-Buy” at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Piper Sandler lifted their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Maxim Group set a $30.00 target price on National Energy Services Reunited in a research report on Monday. JPMorgan Chase & Co. boosted their target price 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. National Bankshares set a $21.00 target price on National Energy Services Reunited in a research report on Friday, January 9th. Finally, BTIG Research lifted their price target on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.57.

National Energy Services Reunited Stock Down 0.4%

Shares of NASDAQ NESR traded down $0.08 during midday trading on Tuesday, hitting $18.21. 81,607 shares of the company’s stock were exchanged, compared to its average volume of 1,064,530. The firm’s fifty day simple moving average is $14.84 and its 200-day simple moving average is $10.99. The company has a market cap of $1.76 billion, a PE ratio of 25.01, a P/E/G ratio of 0.51 and a beta of 0.23. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $18.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The firm had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. Research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in shares of National Energy Services Reunited by 38.2% in the first 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 period. Jane Street Group LLC acquired a new position in National Energy Services Reunited in the 1st quarter valued at $1,425,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited in the 1st quarter valued at $48,000. MMCAP International Inc. SPC purchased a new position in National Energy Services Reunited during the 2nd quarter worth $3,620,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of National Energy Services Reunited in the 2nd quarter worth $350,000. 15.55% of the stock is owned by institutional investors and hedge funds.

About National Energy Services Reunited

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.