National Energy Services Reunited (NASDAQ:NESR) Sets New 12-Month High – What’s Next?

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.24 and last traded at $15.1980, with a volume of 65274 shares trading hands. The stock had previously closed at $15.08.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Maxim Group assumed coverage on National Energy Services Reunited in a report on Tuesday, September 9th. They set a “buy” rating and a $16.00 price target on the stock. BTIG Research increased their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday. Finally, Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.86.

National Energy Services Reunited Trading Up 0.2%

The firm has a 50 day moving average price of $13.49 and a two-hundred day moving average price of $9.87. The firm has a market capitalization of $1.46 billion, a P/E ratio of 20.75 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%. On average, equities research analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently made changes to their positions in NESR. Citadel Advisors LLC acquired a new stake in National Energy Services Reunited during the 3rd quarter valued at $22,722,000. Dodge & Cox grew its holdings in shares of National Energy Services Reunited by 201.6% during the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after buying an additional 1,428,200 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $4,908,000 after buying an additional 780,180 shares during the period. CenterBook Partners LP purchased a new stake in National Energy Services Reunited in the 2nd quarter worth about $4,562,000. Finally, MMCAP International Inc. SPC acquired a new stake in National Energy Services Reunited during the 2nd quarter worth about $3,620,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.