National Energy Services Reunited (NASDAQ:NESR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $16.1429.

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their price target 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 research note on Tuesday, September 9th. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a report on Wednesday, October 8th. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research note on Tuesday, September 9th. Finally, JPMorgan Chase & Co. boosted their price target on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th.

National Energy Services Reunited Trading Down 0.9%

National Energy Services Reunited stock opened at $11.48 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $11.82. The firm has a 50 day moving average of $9.79 and a 200 day moving average of $7.47. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 14.91 and a beta of 0.32.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The company had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $316.07 million. As a group, research analysts predict 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

A number of large investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC increased its holdings in shares of National Energy Services Reunited by 4.3% in the second quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock valued at $55,419,000 after purchasing an additional 382,640 shares during the period. Dodge & Cox increased its stake in shares of National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock worth $12,864,000 after acquiring an additional 1,428,200 shares during the period. Geode Capital Management LLC raised its holdings in shares of National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the last quarter. HITE Hedge Asset Management LLC boosted its holdings in National Energy Services Reunited by 7.6% in the first quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company’s stock valued at $5,757,000 after purchasing an additional 55,004 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in National Energy Services Reunited during the 2nd quarter worth about $4,562,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

About National Energy Services Reunited

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.