Wall Street Zen Upgrades National Energy Services Reunited (NASDAQ:NESR) to Strong-Buy

National Energy Services Reunited (NASDAQ:NESR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other research firms have also recently commented on NESR. Maxim Group set a $30.00 price target on shares of National Energy Services Reunited in a report on Monday, January 12th. Barclays upped their price objective on shares of National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. UBS Group raised their target price on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Piper Sandler boosted their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Finally, Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

National Energy Services Reunited Price Performance

Shares of NESR opened at $19.14 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of 36.11, a price-to-earnings-growth ratio of 0.53 and a beta of 0.18. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The business’s 50 day moving average price is $20.77 and its two-hundred day moving average price is $15.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company had revenue of $398.26 million during the quarter. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue bought a new position in National Energy Services Reunited in the 3rd quarter valued at about $34,000. Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. acquired a new position in National Energy Services Reunited during the 2nd quarter valued at about $37,000. Finally, Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the 1st quarter valued at about $48,000. 15.55% of the stock is owned by 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.