National Energy Services Reunited (NASDAQ:NESR) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

NESR has been the topic of a number of other research reports. Bank of America assumed coverage on shares of National Energy Services Reunited in a research note on Friday, January 9th. They issued a “buy” rating on the stock. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a research note on Friday, January 9th. BTIG Research lifted their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Barclays lifted their price target on shares of National Energy Services Reunited to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.00.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR opened at $21.19 on Friday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 39.98, a PEG ratio of 0.62 and a beta of 0.29. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $26.85. The firm’s 50 day simple moving average is $21.81 and its 200-day simple moving average is $16.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm had revenue of $398.26 million for the quarter. National Energy Services Reunited’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its stake in National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after purchasing an additional 501 shares during the last quarter. ProShare Advisors LLC boosted its stake in National Energy Services Reunited by 6.9% during the 4th 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. Wealth Enhancement Advisory Services LLC boosted its stake in National Energy Services Reunited by 4.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after purchasing an additional 772 shares during the last quarter. Ieq Capital LLC boosted its stake in National Energy Services Reunited by 1.0% during the 4th quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after purchasing an additional 842 shares during the last quarter. Finally, CWM LLC boosted its stake in National Energy Services Reunited by 2.9% during the 4th quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds 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.