National Energy Services Reunited (NASDAQ:NESR) Upgraded at UBS Group

UBS Group upgraded shares of National Energy Services Reunited (NASDAQ:NESR) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

NESR has been the subject of several other research reports. National Bankshares set a $21.00 price objective on shares of National Energy Services Reunited in a report on Friday, January 9th. Bank of America started coverage on National Energy Services Reunited in a research report on Friday, January 9th. They set a “buy” rating on the stock. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a research report on Monday, January 12th. BTIG Research raised their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their target price on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited currently has an average rating of “Buy” and an average target price of $21.00.

National Energy Services Reunited Price Performance

Shares of NESR opened at $20.41 on Wednesday. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $20.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92. The stock has a fifty day moving average price of $15.67 and a 200 day moving average price of $11.58. The company has a market cap of $1.97 billion, a P/E ratio of 27.96, a PEG ratio of 0.58 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results 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 company had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. On average, research analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. Pacer Advisors Inc. acquired a new stake in National Energy Services Reunited during the third quarter valued at $5,543,000. Boston Partners increased its position in National Energy Services Reunited by 240.0% in the 2nd quarter. Boston Partners now owns 166,945 shares of the company’s stock worth $1,005,000 after purchasing an additional 117,840 shares during the last quarter. Kazazian Asset Management LLC raised its stake in shares of National Energy Services Reunited by 46.0% during the 2nd quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock worth $504,000 after purchasing an additional 26,350 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of National Energy Services Reunited by 109.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 444,885 shares of the company’s stock valued at $2,678,000 after buying an additional 232,830 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at about $350,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

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.