National Energy Services Reunited (NASDAQ:NESR) Stock Price Up 12.7% – Still a Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) were up 12.7% during trading on Wednesday . The company traded as high as $24.19 and last traded at $24.4370. Approximately 475,033 shares traded hands during trading, a decline of 74% from the average daily volume of 1,847,111 shares. The stock had previously closed at $21.68.

Analyst Upgrades and Downgrades

A number of analysts have commented on NESR shares. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a research report on Friday, January 9th. UBS Group boosted their price target on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Bank of America initiated coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Finally, Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, National Energy Services Reunited presently has an average rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The business’s fifty day moving average is $21.84 and its 200 day moving average is $16.74. The firm has a market capitalization of $2.46 billion, a P/E ratio of 46.36, a P/E/G ratio of 0.62 and a beta of 0.29.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The business had revenue of $398.26 million for the quarter. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of National Energy Services Reunited by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after acquiring an additional 501 shares during the period. ProShare Advisors LLC raised its holdings in shares of National Energy Services Reunited by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after acquiring an additional 719 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of National Energy Services Reunited by 4.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock valued at $306,000 after acquiring an additional 772 shares during the period. Ieq Capital LLC raised its holdings in shares of National Energy Services Reunited by 1.0% during the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock valued at $1,336,000 after acquiring an additional 842 shares during the period. Finally, CWM LLC raised its holdings in shares of National Energy Services Reunited by 2.9% during the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after acquiring an additional 845 shares during the period. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.