National Energy Services Reunited (NASDAQ:NESR) Receives $16.86 Average PT from Brokerages

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.5714.

NESR has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Zacks Research raised National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. National Bankshares set a $21.00 price target on shares of National Energy Services Reunited in a research note on Friday. Wall Street Zen lowered shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th.

National Energy Services Reunited Trading Down 0.1%

NASDAQ NESR opened at $17.64 on Tuesday. The company has a market capitalization of $1.70 billion, a PE ratio of 24.16 and a beta of 0.23. The company has a fifty day moving average of $14.51 and a 200 day moving average of $10.74. 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 has a 1 year low of $5.20 and a 1 year high of $18.00.

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

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors have recently bought and sold shares of the company. Trexquant Investment LP purchased a new stake in National Energy Services Reunited during the 1st quarter worth approximately $89,000. Millennium Management LLC increased its position in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after purchasing an additional 149,796 shares in the last quarter. Jane Street Group LLC acquired a new position in National Energy Services Reunited in the 1st quarter valued at $1,425,000. Bluefin Capital Management LLC purchased a new position in National Energy Services Reunited in the 1st quarter valued at $137,000. Finally, Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter worth $48,000. 15.55% of the stock is currently 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.