BTIG Research Boosts National Energy Services Reunited (NASDAQ:NESR) Price Target to $32.00

National Energy Services Reunited (NASDAQ:NESR) had its price target raised by BTIG Research from $28.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 23.65% from the stock’s current price.

NESR has been the subject of a number of other reports. Maxim Group set a $30.00 price objective on shares of National Energy Services Reunited in a report on Monday, January 12th. Wall Street Zen lowered National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 20th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Friday, March 27th. Finally, UBS Group boosted their target price on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.57.

National Energy Services Reunited Stock Performance

NASDAQ:NESR traded up $2.78 during mid-day trading on Monday, hitting $25.88. 1,278,225 shares of the company’s stock traded hands, compared to its average volume of 1,870,450. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $22.70 and a two-hundred day moving average of $18.65. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 0.35 and a beta of 0.38. National Energy Services Reunited has a 12 month low of $5.47 and a 12 month high of $26.85.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The business had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts forecast that National Energy Services Reunited will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in shares of National Energy Services Reunited during the third quarter worth $608,000. Citigroup Inc. lifted its stake in shares of National Energy Services Reunited by 680.2% in the 3rd quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock valued at $1,917,000 after acquiring an additional 162,858 shares during the last quarter. Kazazian Asset Management LLC boosted its holdings in shares of National Energy Services Reunited by 71.7% during the 3rd quarter. Kazazian Asset Management LLC now owns 143,650 shares of the company’s stock valued at $1,474,000 after acquiring an additional 60,000 shares in the last quarter. MMCAP International Inc. SPC increased its holdings in National Energy Services Reunited by 40.5% in the 3rd quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock worth $8,671,000 after purchasing an additional 243,785 shares in the last quarter. Finally, EdgePoint Investment Group Inc. bought a new position in National Energy Services Reunited in the third quarter valued at about $923,000. Institutional investors own 15.55% of the company’s stock.

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.