National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year High on Strong Earnings

National Energy Services Reunited (NASDAQ:NESR)’s share price hit a new 52-week high during trading on Monday following a stronger than expected earnings report. The stock traded as high as $31.48 and last traded at $33.2780, with a volume of 39344 shares traded. The stock had previously closed at $29.02.

The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business 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% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Piper Sandler upped their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group lifted their target price on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Finally, BTIG Research reissued a “buy” rating and set a $32.00 target price on shares of National Energy Services Reunited in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $29.71.

Insider Transactions at National Energy Services Reunited

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, the director directly owned 229,198 shares of the company’s stock, valued at $6,142,506.40. The trade was a 89.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 5,129,198 shares of company stock valued at $135,731,984. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in National Energy Services Reunited in the 3rd quarter valued at $22,722,000. Boston Partners increased its holdings in shares of National Energy Services Reunited by 155.6% during the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after purchasing an additional 1,189,035 shares during the period. Millennium Management LLC increased its holdings in shares of National Energy Services Reunited by 1,482.3% during the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after purchasing an additional 1,159,372 shares during the period. Dimensional Fund Advisors LP raised its position in shares of National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after buying an additional 997,300 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of National Energy Services Reunited during the first quarter valued at about $19,045,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Trading Up 15.6%

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 company’s 50 day moving average is $26.79 and its two-hundred day moving average is $24.21. The firm has a market cap of $3.38 billion, a P/E ratio of 52.20, a PEG ratio of 0.34 and a beta of 0.33.

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.