National Energy Services Reunited (NASDAQ:NESR) Receives $29.71 Average Target Price from Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $29.7143.

Several equities analysts have issued reports on NESR shares. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. UBS Group lifted their price target 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. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Piper Sandler raised their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Barclays raised their target price on 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.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,129,198 shares of company stock valued at $135,731,984 over the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its position in National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after purchasing an additional 501 shares during the period. ProShare Advisors LLC raised its holdings in National Energy Services Reunited by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock worth $175,000 after purchasing an additional 719 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of National Energy Services Reunited by 4.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after purchasing an additional 772 shares during the period. Ieq Capital LLC lifted its position in shares of National Energy Services Reunited by 1.0% in the 4th quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after purchasing an additional 842 shares during the period. Finally, CWM LLC boosted its stake in shares of National Energy Services Reunited by 2.9% in the 4th quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after purchasing an additional 845 shares during the last quarter. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $26.87 on Friday. The business has a 50 day moving average of $26.45 and a 200-day moving average of $23.61. The company has a market capitalization of $2.71 billion, a P/E ratio of 41.34, a P/E/G ratio of 0.32 and a beta of 0.31. National Energy Services Reunited has a 1 year low of $6.24 and a 1 year high of $30.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business had revenue of $404.59 million for the quarter, compared to the consensus estimate of $370.87 million. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. On average, equities research analysts predict that National Energy Services Reunited will post 1.74 earnings per share for the current year.

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.