National Energy Services Reunited (NASDAQ:NESR) Stock Rating Lowered by Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

Several other research firms have also commented on NESR. 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. Barclays raised their target price on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. UBS Group cut their target price on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday. BTIG Research increased their price target on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Capital One Financial started coverage on shares of National Energy Services Reunited in a research note on Wednesday. They set an “overweight” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.44.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $24.67 on Thursday. The stock has a fifty day moving average price of $31.86 and a 200 day moving average price of $27.36. The stock has a market cap of $2.49 billion, a PE ratio of 26.82, a P/E/G ratio of 0.24 and a beta of 0.48. National Energy Services Reunited has a 1 year low of $9.95 and a 1 year high of $36.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. The firm’s revenue was up 59.1% on a year-over-year basis. Sell-side analysts forecast that National Energy Services Reunited will post 1.76 earnings per share for the current fiscal year.

Insider Transactions at National Energy Services Reunited

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the business’s 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 completion of the transaction, the director owned 696,398 shares of the company’s stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. This represents a 3.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,894 shares of company stock worth $6,221,414 over the last ninety days. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NESR. Squarepoint Ops LLC boosted its holdings in shares of National Energy Services Reunited by 39.2% during the second quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock worth $14,265,000 after purchasing an additional 134,316 shares during the last quarter. Hsbc Holdings PLC acquired a new position in National Energy Services Reunited in the fourth quarter valued at $747,000. Bank of America Corp DE increased its stake in National Energy Services Reunited by 21.4% in the first quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock valued at $12,826,000 after purchasing an additional 105,205 shares during the last quarter. Readystate Asset Management LP purchased a new position in National Energy Services Reunited during the second quarter worth about $5,724,000. Finally, HITE Hedge Asset Management LLC lifted its position in National Energy Services Reunited by 43.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock worth $14,398,000 after buying an additional 279,543 shares during the period. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.