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

Zacks Research downgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a report on Friday, January 9th. UBS Group increased their price target on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Bank of America assumed coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Sunday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.86.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $23.23 on Monday. The firm’s 50 day simple moving average is $22.24 and its 200 day simple moving average is $17.24. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.34 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 0.35 and a beta of 0.29. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $26.85.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently made changes to their positions in NESR. Citadel Advisors LLC bought a new position in shares of National Energy Services Reunited during the 3rd quarter valued at $22,722,000. Boston Partners boosted its position in National Energy Services Reunited by 155.6% during 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 period. Millennium Management LLC boosted its position in National Energy Services Reunited by 1,482.3% during the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after buying an additional 1,159,372 shares during the period. Geode Capital Management LLC boosted its position in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after buying an additional 780,180 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in National Energy Services Reunited during the 4th quarter valued at $12,208,000. Institutional investors 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.