National Energy Services Reunited (NASDAQ:NESR) Now Covered by Bank of America

Bank of America started coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm issued a buy rating on the stock.

Several other research analysts have also commented on NESR. Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. National Bankshares set a $21.00 price target on shares of National Energy Services Reunited in a research note on Friday. Piper Sandler raised 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 research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their target price 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. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.57.

National Energy Services Reunited Stock Down 0.1%

NESR opened at $17.64 on Friday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 24.16 and a beta of 0.23. National Energy Services Reunited has a one year low of $5.20 and a one year high of $18.00. The company has a fifty day moving average price of $14.51 and a 200-day moving average price of $10.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The company had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. Equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in shares of National Energy Services Reunited during the third quarter valued at about $34,000. Legal & General Group Plc purchased a new stake in National Energy Services Reunited during the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. bought a new position in National Energy Services Reunited during the 2nd quarter worth approximately $37,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the 1st quarter worth approximately $48,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in National Energy Services Reunited in the third quarter valued at approximately $109,000. 15.55% of the stock is owned by institutional investors.

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.