National Energy Services Reunited (NASDAQ:NESR) Sets New 52-Week High – Time to Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high during trading on Monday . The company traded as high as $27.40 and last traded at $27.0940, with a volume of 15926 shares. The stock had previously closed at $26.50.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BTIG Research lifted their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. UBS Group lifted 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, May 12th. Piper Sandler lifted their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Barclays lifted 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, May 13th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Price Performance

The firm has a 50-day simple moving average of $24.47 and a 200-day simple moving average of $20.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The firm has a market capitalization of $2.66 billion, a PE ratio of 40.70, a PEG ratio of 0.34 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, equities analysts forecast that National Energy Services Reunited will post 1.68 earnings per share for the current year.

Insider Transactions at National Energy Services Reunited

In related news, Director Yousif Mohammed Ali Al-Nowais sold 5,526 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $25.53, for a total transaction of $141,078.78. Following the completion of the sale, the director directly owned 3,550,442 shares in the company, valued at approximately $90,642,784.26. The trade was a 0.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,808,154 shares of company stock worth $47,410,676 in the last three months. Insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the period. State of Wyoming bought a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Clearstead Advisors LLC grew its position in National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after buying an additional 3,171 shares during the period. Legal & General Group Plc bought a new stake in National Energy Services Reunited during the second quarter valued at approximately $34,000. Finally, Acadian Asset Management LLC bought a new stake in National Energy Services Reunited during the first quarter valued at approximately $48,000. 15.55% of the stock is currently owned by 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.