National Energy Services Reunited (NASDAQ:NESR) Receives $33.57 Consensus Price Target from Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $33.8571.

A number of equities analysts have issued reports on the company. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Barclays increased their price target on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Piper Sandler lifted their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of National Energy Services Reunited from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday.

Insider Activity

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the transaction, the director owned 696,398 shares of the company’s stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,096,488 shares of company stock valued at $57,666,533. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arlington Capital Management Inc. bought a new stake in shares of National Energy Services Reunited in the second quarter worth about $424,000. Integrated Wealth Concepts LLC bought a new position in shares of National Energy Services Reunited during the 2nd quarter valued at about $45,000. Squarepoint Ops LLC lifted its holdings in shares of National Energy Services Reunited by 39.2% during the 2nd quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock valued at $14,265,000 after purchasing an additional 134,316 shares in the last quarter. Allworth Financial LP grew its position in shares of National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares during the period. Finally, Arizona State Retirement System acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at approximately $520,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

Shares of National Energy Services Reunited stock opened at $32.09 on Friday. The firm has a fifty day moving average of $31.35 and a two-hundred day moving average of $26.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 0.31 and a beta of 0.39. National Energy Services Reunited has a 52 week low of $9.92 and a 52 week high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.National Energy Services Reunited’s quarterly revenue was up 59.1% compared to the same quarter last year. As a group, equities research analysts predict that National Energy Services Reunited will post 1.82 EPS for the current year.

About National Energy Services Reunited

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.