National Energy Services Reunited (NASDAQ:NESR) Hits New 52-Week High Following Analyst Upgrade

National Energy Services Reunited (NASDAQ:NESR) shares hit a new 52-week high on Wednesday after UBS Group upgraded the stock to a strong-buy rating. The company traded as high as $18.66 and last traded at $18.8210, with a volume of 1333 shares. The stock had previously closed at $18.34.

A number of other equities research analysts have also recently issued reports on NESR. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. BTIG Research raised their price target on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Bank of America assumed coverage on National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating on the stock. Finally, Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $21.00.

Hedge Funds Weigh In On National Energy Services Reunited

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

National Energy Services Reunited Stock Performance

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 0.57 and a beta of 0.23. The company’s fifty day simple moving average is $15.54 and its 200 day simple moving average is $11.48. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $295.32 million for the quarter, compared to analysts’ expectations of $292.46 million. On average, equities research analysts expect that National Energy Services Reunited will post 1.03 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.