Brokerages Set National Energy Services Reunited (NASDAQ:NESR) PT at $33.57

Shares of National Energy Services Reunited (NASDAQ:NESR) have been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $33.8571.

A number of equities analysts recently commented on NESR shares. Barclays raised their price target on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. UBS Group reaffirmed a “buy” rating and set a $47.00 target price on shares of National Energy Services Reunited in a report on Monday, September 14th. BTIG Research raised their target price on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Piper Sandler lifted their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR opened at $32.58 on Friday. The firm has a market cap of $3.29 billion, a P/E ratio of 35.41, a price-to-earnings-growth ratio of 0.31 and a beta of 0.39. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 1-year low of $9.92 and a 1-year high of $36.94. The business’s 50 day moving average is $31.61 and its 200-day moving average is $26.80.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The business had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The firm’s revenue for the quarter was up 59.1% compared to the same quarter last year. Equities research analysts predict that National Energy Services Reunited will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the transaction, the director directly owned 696,398 shares of the company’s stock, valued at $24,687,309.10. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total value of $476,578.40. Following the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,096,488 shares of company stock worth $57,666,533 in the last quarter. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently bought and sold shares of NESR. Dimensional Fund Advisors LP boosted its position in shares of National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after acquiring an additional 997,300 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in shares of National Energy Services Reunited by 43.7% in the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after purchasing an additional 279,543 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of National Energy Services Reunited during the 1st quarter worth $19,045,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of National Energy Services Reunited by 75.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after buying an additional 365,217 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of National Energy Services Reunited by 21.4% during the 1st quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock worth $12,826,000 after buying an additional 105,205 shares during the last quarter. 15.55% of the stock is currently owned by institutional investors and hedge funds.

About National Energy Services Reunited

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.