National Energy Services (NESR) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of National Energy Services (NASDAQ:NESR) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $12.00 target price on the stock.
According to Zacks, “Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services. “
Several other equities research analysts also recently weighed in on the company. BTIG Research assumed coverage on National Energy Services in a report on Tuesday, October 23rd. They set a buy rating and a $18.00 price target for the company. Evercore ISI assumed coverage on National Energy Services in a report on Wednesday, October 10th. They set an outperform rating and a $17.00 price target for the company. Finally, National Bank Financial reaffirmed an outperform rating and set a $15.00 price target on shares of National Energy Services in a report on Tuesday, July 31st.
A number of large investors have recently added to or reduced their stakes in NESR. FMR LLC purchased a new position in National Energy Services in the second quarter worth $9,887,000. Crystal Rock Capital Management raised its position in National Energy Services by 64.5% in the second quarter. Crystal Rock Capital Management now owns 378,236 shares of the company’s stock worth $3,915,000 after acquiring an additional 148,236 shares in the last quarter. Virtu Financial LLC purchased a new position in National Energy Services in the third quarter worth $143,000. Finally, Tower Research Capital LLC TRC raised its position in National Energy Services by 30,262.9% in the third quarter. Tower Research Capital LLC TRC now owns 10,627 shares of the company’s stock worth $124,000 after acquiring an additional 10,592 shares in the last quarter. Hedge funds and other institutional investors own 5.36% of the company’s stock.
About National Energy Services
National Energy Services Reunited Corp. intends to engage in merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more target businesses. The company was founded in 2017 and is headquartered in Houston, Texas.
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