National Energy Services Reunited (NASDAQ:NESR) Stock Rating Lowered by Zacks Investment Research
National Energy Services Reunited (NASDAQ:NESR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, “Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services. “
Shares of NESR stock traded up $0.01 during trading hours on Wednesday, reaching $8.09. The company’s stock had a trading volume of 82,700 shares, compared to its average volume of 308,489. The company’s 50 day moving average is $8.45. National Energy Services Reunited has a fifty-two week low of $7.42 and a fifty-two week high of $14.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.11 and a current ratio of 1.37.
Several institutional investors and hedge funds have recently made changes to their positions in NESR. Deutsche Bank AG bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $34,000. BlackRock Inc. bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $60,000. Geode Capital Management LLC bought a new position in shares of National Energy Services Reunited in the 4th quarter valued at $136,000. Crown Advisors Management Inc. bought a new position in shares of National Energy Services Reunited in the 1st quarter valued at $219,000. Finally, Marshall Wace LLP bought a new position in shares of National Energy Services Reunited in the 1st quarter valued at $657,000. Institutional investors own 16.74% of the company’s stock.
National Energy Services Reunited Company Profile
National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.
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