National Energy Services Reunited (NASDAQ:NESR) Stock Has Average Price Target of $38.44

National Energy Services Reunited (NASDAQ:NESR) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.88.

A number of brokerages have recently issued reports on NESR. Capital One Financial initiated coverage on National Energy Services Reunited in a research report on Wednesday, September 30th. They set an “overweight” rating and a $44.00 price target for the company. BMO Capital Markets assumed coverage on shares of National Energy Services Reunited in a research report on Thursday, October 1st. They issued an “outperform” rating and a $39.00 price objective on the stock. 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, September 29th. Barclays lifted their target price 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. Finally, Wall Street Zen cut shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 3rd.

Insider Transactions at National Energy Services Reunited

In related news, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the sale, the chief financial officer owned 549,763 shares in the company, valued at $19,307,676.56. The trade was a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sherif Foda sold 100,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at $107,962,505. This trade represents a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 176,894 shares of company stock worth $6,221,414. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after purchasing an additional 997,300 shares during the period. HITE Hedge Asset Management LLC grew its stake in shares of National Energy Services Reunited by 43.7% during the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after acquiring an additional 279,543 shares during the period. Walleye Capital LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter valued at approximately $19,045,000. Arrowstreet Capital Limited Partnership increased its holdings in National Energy Services Reunited by 75.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after acquiring an additional 365,217 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in National Energy Services Reunited by 21.4% in the 1st quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock worth $12,826,000 after acquiring an additional 105,205 shares in the last quarter. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

NASDAQ:NESR opened at $19.58 on Thursday. National Energy Services Reunited has a 52-week low of $10.22 and a 52-week high of $36.94. The stock has a fifty day moving average of $31.15 and a 200 day moving average of $27.47. 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 firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 0.25 and a beta of 0.48.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The business had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. The firm’s quarterly revenue was up 59.1% compared to the same quarter last year. On average, research analysts expect that National Energy Services Reunited will post 1.65 EPS for the current fiscal year.

National Energy Services Reunited Company Profile

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.