National Energy Services Reunited (NASDAQ:NESR) Stock Has Average Target Price of $40.38

Shares of National Energy Services Reunited (NASDAQ:NESR) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $40.38.

NESR has been the topic of a number of recent analyst reports. Barclays reduced their price target on National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, October 15th. Citigroup reaffirmed a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Capital One Financial started coverage on shares of National Energy Services Reunited in a report on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 price target on the stock. Finally, Wall Street Zen lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd.

Insider Buying and Selling

In other news, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 549,763 shares of the company’s stock, valued at $19,307,676.56. The trade was a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction that occurred 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 transaction, the director owned 696,398 shares of the company’s stock, valued at approximately $24,687,309.10. This represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 176,894 shares of company stock valued at $6,221,414 over the last 90 days. Insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of National Energy Services Reunited by 351.2% in the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after buying an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited during the second quarter worth $45,000. Allworth Financial LP lifted its holdings in National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in National Energy Services Reunited by 848.6% in the 3rd quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after buying an additional 1,833 shares during the last quarter. Finally, USA Financial Formulas boosted its stake in shares of 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 acquiring an additional 871 shares during the last quarter. Institutional investors and hedge funds own 15.55% of the company’s stock.

National Energy Services Reunited Price Performance

Shares of NESR opened at $19.96 on Monday. The stock has a market capitalization of $2.01 billion, a PE ratio of 21.70, a PEG ratio of 0.23 and a beta of 0.57. 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 company has a 50 day moving average price of $26.56 and a 200-day moving average price of $25.55. National Energy Services Reunited has a fifty-two week low of $12.21 and a fifty-two week high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. The firm’s revenue was up 59.1% on a year-over-year basis. Equities analysts predict that National Energy Services Reunited will post 1.66 earnings per share for the current fiscal year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells.

The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.