National Energy Services Reunited (NASDAQ:NESR) Receives Consensus Rating of “Buy” from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been assigned an average rating of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.00.

Several brokerages recently commented on NESR. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a research note on Monday, January 12th. UBS Group upgraded shares of National Energy Services Reunited to a “strong-buy” rating in a research report on Wednesday, January 21st. Piper Sandler increased their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Millennium Management LLC grew its stake in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after buying an additional 149,796 shares during the last quarter. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at approximately $1,425,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth $48,000. MMCAP International Inc. SPC purchased a new stake in National Energy Services Reunited in the second quarter worth about $3,620,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of National Energy Services Reunited during the 2nd quarter worth approximately $350,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $19.68 on Friday. The firm’s 50 day moving average is $16.26 and its 200 day moving average is $12.05. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $20.90. The stock has a market capitalization of $1.90 billion, a P/E ratio of 26.96, a PEG ratio of 0.57 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%. On average, sell-side analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current year.

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.