National Energy Services Reunited (NASDAQ:NESR) Cut to “Hold” at Zacks Research

Zacks Research cut shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on NESR. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a research note on Friday, January 9th. Piper Sandler increased their price target 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. BTIG Research raised their price objective on National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, National Energy Services Reunited has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

National Energy Services Reunited Stock Up 1.5%

National Energy Services Reunited stock opened at $20.83 on Wednesday. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $21.60. The company’s 50-day moving average price is $17.55 and its two-hundred day moving average price is $13.05. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.01 billion, a P/E ratio of 28.53, a P/E/G ratio of 0.59 and a beta of 0.25.

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

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors have recently made changes to their positions in NESR. The Manufacturers Life Insurance Company bought a new stake in National Energy Services Reunited during the 4th quarter worth approximately $295,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $4,154,000. Alyeska Investment Group L.P. bought a new stake in National Energy Services Reunited during the fourth quarter worth $12,208,000. Ieq Capital LLC grew its holdings in National Energy Services Reunited by 1.0% during the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after buying an additional 842 shares in the last quarter. Finally, Boston Partners raised its position in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after buying an additional 1,189,035 shares during the last quarter. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

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.