National Energy Services Reunited (NASDAQ:NESR) Rating Lowered to “Hold” at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

NESR has been the subject of a number of other reports. 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 note on Tuesday, November 18th. Bank of America assumed coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They set a “buy” rating on the stock. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. UBS Group raised National Energy Services Reunited to a “strong-buy” rating in a research report on Wednesday, January 21st. Finally, BTIG Research lifted their target price on National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $20.52 on Wednesday. The company’s fifty day moving average price is $17.43 and its 200-day moving average price is $12.95. The stock has a market cap of $1.98 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 0.62 and a beta of 0.25. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $21.60.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $292.46 million. On average, equities analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

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