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

Shares of National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $27.70 and last traded at $27.1040, with a volume of 231496 shares. The stock had previously closed at $26.98.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research raised their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. UBS Group increased their price objective on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Piper Sandler raised their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

National Energy Services Reunited Stock Up 1.4%

The firm’s 50-day simple moving average is $24.88 and its 200 day simple moving average is $21.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. The company has a market cap of $2.76 billion, a P/E ratio of 41.87, a PEG ratio of 0.32 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, research analysts forecast that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.13, for a total transaction of $27,922,335.09. Following the transaction, the director owned 2,481,649 shares in the company, valued at approximately $64,845,488.37. This trade represents a 30.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,209,604 shares of company stock valued at $84,286,865 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently modified their holdings of NESR. Royal Bank of Canada boosted its stake in National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares during the last quarter. Legal & General Group Plc acquired a new stake in National Energy Services Reunited in the second quarter worth $34,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the first quarter worth $48,000. Osaic Holdings Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth $73,000. Finally, State of Wyoming acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $76,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.