National Energy Services Reunited (NASDAQ:NESR) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a strong-buy rating in a report issued on Saturday morning.

Other analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. BTIG Research raised their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Bank of America began coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, National Energy Services Reunited currently has an average rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Trading Down 0.7%

Shares of NASDAQ NESR opened at $19.14 on Friday. The stock’s 50 day moving average price is $20.77 and its two-hundred day moving average price is $15.30. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The stock has a market capitalization of $1.93 billion, a P/E ratio of 36.11, a PEG ratio of 0.52 and a beta of 0.18. The company has a quick ratio of 0.92, a current ratio of 1.04 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The company had revenue of $398.26 million during the quarter. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts anticipate that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock worth $3,990,000 after buying an additional 149,796 shares during the period. Jane Street Group LLC acquired a new stake in National Energy Services Reunited in the 1st quarter valued at approximately $1,425,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited in the 1st quarter valued at approximately $48,000. Los Angeles Capital Management LLC bought a new stake in National Energy Services Reunited during the 2nd quarter valued at $350,000. Finally, ProShare Advisors LLC bought a new stake in National Energy Services Reunited during the 2nd quarter valued at $75,000. 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.