National Energy Services Reunited (NASDAQ:NESR) Sets New 1-Year High – Time to Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.66 and last traded at $18.8210, with a volume of 1333 shares traded. The stock had previously closed at $18.34.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NESR. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Piper Sandler upped their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. National Bankshares set a $21.00 price target on shares of National Energy Services Reunited in a research report on Friday, January 9th. Finally, Bank of America started coverage on shares of National Energy Services Reunited in a research note on Friday, January 9th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $21.00.

National Energy Services Reunited Stock Up 6.0%

The firm has a market cap of $1.88 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.53 and a beta of 0.23. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $15.28 and a 200-day moving average price of $11.36.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The company had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. On average, equities analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

A number of large investors have recently bought and sold shares of NESR. Millennium Management LLC increased its holdings in shares of National Energy Services Reunited by 38.2% in the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after acquiring an additional 149,796 shares during the period. Jane Street Group LLC bought a new stake in National Energy Services Reunited during the first quarter valued at about $1,425,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the first quarter worth about $48,000. MMCAP International Inc. SPC bought a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at about $3,620,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of National Energy Services Reunited in the 2nd quarter worth approximately $350,000. Institutional investors 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.