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

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

Other research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. UBS Group increased their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays increased their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday. BTIG Research increased their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.86.

National Energy Services Reunited Stock Down 2.0%

National Energy Services Reunited stock opened at $25.46 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 39.17, a P/E/G ratio of 0.34 and a beta of 0.38. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a twelve month low of $5.47 and a twelve month high of $27.25. The company’s 50-day moving average price is $22.83 and its two-hundred day moving average price is $19.18.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. National Energy Services Reunited’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts expect that National Energy Services Reunited will post 1.61 EPS for the current year.

Insider Activity

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 223,626 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $26.85, for a total transaction of $6,004,358.10. Following the transaction, the director owned 5,134,770 shares in the company, valued at $137,868,574.50. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in National Energy Services Reunited by 2.2% in the first quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock valued at $2,585,000 after acquiring an additional 2,630 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in National Energy Services Reunited by 115.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock valued at $7,189,000 after acquiring an additional 179,498 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in National Energy Services Reunited in the first quarter valued at approximately $1,735,000. Arrowstreet Capital Limited Partnership increased its stake in National Energy Services Reunited by 75.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock valued at $18,176,000 after acquiring an additional 365,217 shares during the last quarter. Finally, Sei Investments Co. increased its stake in National Energy Services Reunited by 50.9% in the first quarter. Sei Investments Co. now owns 124,472 shares of the company’s stock valued at $2,672,000 after acquiring an additional 42,006 shares during the last quarter. 15.55% of the stock is owned by institutional investors.

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.