National Energy Services Reunited (NASDAQ:NESR) Rating Lowered to Buy at Wall Street Zen

National Energy Services Reunited (NASDAQ:NESR) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently commented on the stock. Piper Sandler lowered their target price on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday. National Bank Financial set a $44.00 target price on National Energy Services Reunited in a research report on Wednesday. Weiss Ratings cut National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. BMO Capital Markets assumed coverage on National Energy Services Reunited in a report on Thursday. They issued an “outperform” rating and a $39.00 price target for the company. Finally, Barclays increased their price target on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, National Energy Services Reunited has an average rating of “Buy” and an average price target of $38.44.

National Energy Services Reunited Stock Performance

NESR opened at $24.67 on Friday. The business has a fifty day moving average price of $31.86 and a 200 day moving average price of $27.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. National Energy Services Reunited has a 12 month low of $9.95 and a 12 month high of $36.94. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 0.24 and a beta of 0.48.

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

Insiders Place Their Bets

In other news, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited stock in a transaction 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 in the company, valued at $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 176,894 shares of company stock valued at $6,221,414 over the last quarter. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Arlington Capital Management Inc. acquired a new stake in shares of National Energy Services Reunited during the second quarter worth about $424,000. Integrated Wealth Concepts LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $45,000. Squarepoint Ops LLC lifted its position in National Energy Services Reunited by 39.2% during the 2nd quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock worth $14,265,000 after acquiring an additional 134,316 shares during the period. Allworth Financial LP raised its stake in shares of National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after purchasing an additional 649 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of National Energy Services Reunited during the second quarter worth $520,000. 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.