National Energy Services Reunited (NASDAQ:NESR) Receives $16.86 Average PT from Brokerages

Shares of National Energy Services Reunited (NASDAQ:NESR) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.8571.

NESR has been the subject of a number of recent analyst reports. BTIG Research raised their price objective on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research note on Tuesday, September 9th. Piper Sandler upped their price objective on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Finally, Zacks Research raised shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in shares of National Energy Services Reunited during the third quarter valued at $34,000. Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the 2nd quarter worth about $34,000. Ameritas Investment Partners Inc. purchased a new stake in National Energy Services Reunited during the 2nd quarter valued at about $37,000. Acadian Asset Management LLC purchased a new stake in National Energy Services Reunited during the 1st quarter valued at about $48,000. Finally, Osaic Holdings Inc. acquired a new position in shares of National Energy Services Reunited in the second quarter valued at about $73,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Down 2.5%

Shares of National Energy Services Reunited stock opened at $14.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.39 billion, a P/E ratio of 19.81 and a beta of 0.27. The firm’s 50 day moving average price is $13.04 and its 200-day moving average price is $9.56. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $15.10.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The company had revenue of $295.32 million during the quarter, compared to analysts’ expectations of $292.46 million. On average, sell-side analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.