National Energy Services Reunited (NASDAQ:NESR) Upgraded at Zacks Research

Zacks Research upgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

NESR has been the subject of several other reports. National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a research note on Friday, January 9th. Piper Sandler boosted their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. UBS Group increased their price target on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Wall Street Zen upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Saturday. Finally, Bank of America assumed coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, National Energy Services Reunited has a consensus rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $19.14 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.04. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 0.52 and a beta of 0.18. The company has a 50 day moving average price of $20.77 and a 200 day moving average price of $15.30. National Energy Services Reunited has a one year low of $5.20 and a one year high of $26.85.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm had revenue of $398.26 million for the quarter. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new position in National Energy Services Reunited in the third quarter worth approximately $22,722,000. Dodge & Cox raised its stake in shares of National Energy Services Reunited by 201.6% in the 2nd quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after acquiring an additional 1,428,200 shares in the last quarter. Boston Partners lifted its holdings 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 worth $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Millennium Management LLC lifted its holdings in National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position 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 during the period. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.