BTIG Research Boosts National Energy Services Reunited (NASDAQ:NESR) Price Target to $16.00

National Energy Services Reunited (NASDAQ:NESR) had its price target raised by equities researchers at BTIG Research from $12.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 16.36% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. Zacks Research upgraded National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler increased their target price on National Energy Services Reunited from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen downgraded National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited presently has an average rating of “Moderate Buy” and an average target price of $16.29.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $13.75 on Thursday. The stock has a fifty day moving average price of $11.25 and a 200 day moving average price of $8.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11. The stock has a market cap of $1.33 billion, a PE ratio of 18.84 and a beta of 0.38. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $14.50.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $295.32 million for the quarter, compared to analyst estimates of $292.46 million. National Energy Services Reunited had a return on equity of 8.32% and a net margin of 5.53%. Sell-side analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds have recently made changes to their positions in the business. Creative Planning acquired a new position in National Energy Services Reunited in the third quarter valued at $211,000. Raymond James Financial Inc. purchased a new stake in National Energy Services Reunited in the 3rd quarter valued at about $126,000. Two Sigma Investments LP acquired a new position in shares of National Energy Services Reunited during the 3rd quarter valued at about $871,000. Bridgeway Capital Management LLC lifted its holdings in shares of National Energy Services Reunited by 41.3% during the 3rd quarter. Bridgeway Capital Management LLC now owns 573,956 shares of the company’s stock worth $5,889,000 after acquiring an additional 167,662 shares during the period. Finally, Interval Partners LP acquired a new stake in shares of National Energy Services Reunited in the third quarter worth approximately $785,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.