National Energy Services Reunited (NASDAQ:NESR) Stock Rated “Overweight” in New Coverage at Capital One Financial

Capital One Financial began coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $44.00 price objective on the stock.

A number of other brokerages have also recently issued reports on NESR. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Piper Sandler lifted their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. UBS Group lowered their target price on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of National Energy Services Reunited from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 11th. Two analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.44.

National Energy Services Reunited Trading Down 1.0%

Shares of NESR opened at $24.67 on Wednesday. The stock’s 50-day moving average price is $31.86 and its 200 day moving average price is $27.36. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 0.24 and a beta of 0.48. National Energy Services Reunited has a 12-month low of $9.95 and a 12-month high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $520.75 million during 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%.The firm’s revenue was up 59.1% compared to the same quarter last year. As a group, research analysts predict that National Energy Services Reunited will post 1.76 earnings per share for the current year.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the sale, the director owned 696,398 shares of the company’s stock, valued at approximately $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sherif Foda sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. The trade was a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 176,894 shares of company stock worth $6,221,414 over the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NESR. Integrated Wealth Concepts LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at $45,000. USA Financial Formulas boosted its stake in National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after purchasing an additional 871 shares in the last quarter. Allworth Financial LP boosted its stake in National Energy Services Reunited by 51.0% in the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after purchasing an additional 649 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of National Energy Services Reunited during the first quarter worth $151,000. Finally, ProShare Advisors LLC grew its holdings in shares of National Energy Services Reunited by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock worth $175,000 after purchasing an additional 719 shares during the last quarter. 15.55% of the stock is owned by institutional investors and hedge funds.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.