National Energy Services Reunited (NASDAQ:NESR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts also recently commented on the company. BTIG Research increased their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. UBS Group boosted 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 research report on Tuesday. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, Barclays lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited has an average rating of “Buy” and an average target price of $29.43.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $29.93 on Monday. The company’s fifty day moving average is $25.20 and its 200-day moving average is $21.89. National Energy Services Reunited has a 12 month low of $5.90 and a 12 month high of $30.31. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 46.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.35. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities analysts expect that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

Insider Activity at National Energy Services Reunited

In other 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 transaction of $51,445,119.20. Following the sale, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 5,129,198 shares of company stock valued at $135,731,984. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares during the period. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at about $34,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited in the first quarter valued at about $48,000. Osaic Holdings Inc. bought a new stake in National Energy Services Reunited in the second quarter valued at about $73,000. Finally, State of Wyoming acquired a new position in National Energy Services Reunited in the fourth quarter worth about $76,000. Institutional investors own 15.55% of the company’s stock.

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.