Barclays Cuts National Energy Services Reunited (NASDAQ:NESR) Price Target to $33.00

National Energy Services Reunited (NASDAQ:NESR) had its price target reduced by Barclays from $34.00 to $33.00 in a research report sent to investors on Thursday morning, MarketBeat reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group boosted their price objective on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a report on Thursday, February 19th. BTIG Research boosted their price objective on National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Bank of America initiated coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Maxim Group set a $30.00 price objective on National Energy Services Reunited in a report on Monday, January 12th. Finally, National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Buy” and a consensus target price of $25.86.

National Energy Services Reunited Price Performance

NASDAQ:NESR opened at $23.00 on Thursday. National Energy Services Reunited has a 52 week low of $5.47 and a 52 week high of $26.85. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.32 billion, a P/E ratio of 43.40, a P/E/G ratio of 0.63 and a beta of 0.29. The stock’s fifty day moving average is $22.09 and its two-hundred day moving average is $16.97.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, beating 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 company had revenue of $398.26 million for the quarter. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in National Energy Services Reunited during the 3rd quarter worth $608,000. Citigroup Inc. grew its stake in National Energy Services Reunited by 680.2% during the 3rd quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock worth $1,917,000 after purchasing an additional 162,858 shares in the last quarter. Pacer Advisors Inc. acquired a new position in National Energy Services Reunited during the 3rd quarter worth $5,543,000. Kazazian Asset Management LLC grew its stake in National Energy Services Reunited by 71.7% during the 3rd quarter. Kazazian Asset Management LLC now owns 143,650 shares of the company’s stock worth $1,474,000 after purchasing an additional 60,000 shares in the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in National Energy Services Reunited during the 3rd quarter worth $923,000. 15.55% of the stock is owned by institutional investors and hedge funds.

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.