Barclays Forecasts Strong Price Appreciation for National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) had its price target hoisted by equities researchers at Barclays from $33.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 43.46% from the company’s current price.

A number of other research analysts have also weighed in on the company. National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a research report on Friday, January 9th. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Friday, March 27th. Finally, BTIG Research boosted their target price on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, National Energy Services Reunited currently has an average rating of “Moderate Buy” and an average price target of $26.00.

National Energy Services Reunited Stock Performance

Shares of National Energy Services Reunited stock traded up $0.35 on Friday, hitting $23.70. 235,363 shares of the company’s stock were exchanged, compared to its average volume of 1,857,756. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $26.85. The company has a 50-day simple moving average of $22.70 and a 200-day simple moving average of $18.65. The stock has a market capitalization of $2.39 billion, a PE ratio of 44.82, a PEG ratio of 0.38 and a beta of 0.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. The business had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that National Energy Services Reunited will post 1.53 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position 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 buying an additional 997,300 shares during the period. Bank of New York Mellon Corp boosted its position in National Energy Services Reunited by 16.2% during the first quarter. Bank of New York Mellon Corp now owns 159,622 shares of the company’s stock worth $3,427,000 after purchasing an additional 22,234 shares in the last quarter. Calamos Advisors LLC acquired a new stake in National Energy Services Reunited in the first quarter valued at approximately $1,671,000. Principal Financial Group Inc. increased its position in shares of National Energy Services Reunited by 17.5% in the first quarter. Principal Financial Group Inc. now owns 100,301 shares of the company’s stock valued at $2,153,000 after buying an additional 14,968 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of National Energy Services Reunited by 47.4% during the 1st quarter. Hsbc Holdings PLC now owns 71,033 shares of the company’s stock worth $1,530,000 after buying an additional 22,835 shares during the period. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

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.