National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.2857.

NESR has been the topic of a number of analyst reports. Zacks Research raised National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. National Bankshares set a $16.00 target price on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a report on Wednesday, October 8th. Maxim Group assumed coverage on shares of National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NESR. Encompass Capital Advisors LLC increased its holdings in shares of National Energy Services Reunited by 4.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock valued at $55,419,000 after acquiring an additional 382,640 shares during the last quarter. Dodge & Cox boosted its holdings in National Energy Services Reunited by 5.6% in the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares in the last quarter. MMCAP International Inc. SPC increased its stake in National Energy Services Reunited by 40.5% in the third quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock valued at $8,671,000 after purchasing an additional 243,785 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 in the last quarter. Finally, HITE Hedge Asset Management LLC lifted its position in shares of National Energy Services Reunited by 7.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company’s stock worth $5,757,000 after buying an additional 55,004 shares during the last quarter. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $13.75 on Monday. The firm has a 50 day moving average of $11.25 and a two-hundred day moving average of $8.31. The stock has a market capitalization of $1.33 billion, a PE ratio of 18.84 and a beta of 0.38. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 0.24. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $14.50.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $295.32 million for the quarter, compared to analysts’ expectations of $292.46 million. National Energy Services Reunited had a return on equity of 8.32% and a net margin of 5.53%. On average, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

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.