BMO Capital Markets Upgrades National Energy Services Reunited (NASDAQ:NESR) to “Strong-Buy”

National Energy Services Reunited (NASDAQ:NESR) was upgraded by stock analysts at BMO Capital Markets to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

Several other research firms have also commented on NESR. Piper Sandler lifted their price target on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. UBS Group lowered their price objective on National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings cut National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Barclays boosted their target price on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.00.

National Energy Services Reunited Price Performance

NESR stock opened at $24.93 on Thursday. National Energy Services Reunited has a 52 week low of $9.95 and a 52 week high of $36.94. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $31.91 and a two-hundred day simple moving average of $27.38. The firm has a market capitalization of $2.51 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 0.23 and a beta of 0.48.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited’s revenue for the quarter was up 59.1% on a year-over-year basis. Analysts anticipate that National Energy Services Reunited will post 1.88 earnings per share for the current fiscal year.

Insider Activity at National Energy Services Reunited

In related news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $35.00, for a total value of $3,500,000.00. Following the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at $107,962,505. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 176,894 shares of company stock worth $6,221,414. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its stake in shares of National Energy Services Reunited by 51.0% during the second quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after acquiring an additional 649 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after purchasing an additional 871 shares during the period. Integrated Wealth Concepts LLC bought a new position in National Energy Services Reunited in the second quarter worth approximately $45,000. Lazard Asset Management LLC grew its stake in National Energy Services Reunited by 2.2% in the first quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock worth $2,585,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in National Energy Services Reunited during the 1st quarter worth $151,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting National Energy Services Reunited

Here are the key news stories impacting National Energy Services Reunited this week:

• Positive Sentiment: BMO Capital initiated coverage with an Outperform rating and a $39 price target. Analyst Phillip Jungwirth cited rapid Middle East and North Africa growth, strong cash generation and potential valuation upside. BMO Capital initiates coverage on NESR
• Positive Sentiment: Capital One began coverage with an Overweight rating and a $44 price target. The target implies substantial upside and adds another favorable institutional view of NESR’s growth prospects. Capital One initiates coverage on NESR
• Positive Sentiment: UBS maintained its Buy rating while adjusting its price target modestly to $46 from $47, signaling continued confidence in the company’s longer-term outlook. UBS adjusts NESR price target
• Positive Sentiment: Recent coverage highlights NESR’s Jafurah ramp-up, new Kuwait and regional awards, rapid revenue growth and lower leverage. Technical analysts also view the stock as oversold after a steep four-week decline, while rising earnings estimates could support a rebound. Zacks NESR turnaround analysis
• Neutral Sentiment: The bullish growth outlook comes with execution risks: sustaining the Jafurah expansion may require higher capital spending and could pressure cash flow. NESR’s richer valuation also leaves less room for operational disappointment. Zacks NESR valuation analysis
• Negative Sentiment: NESR shares recently gapped lower and have lost 23.7% over four weeks, indicating continued technical selling and investor concern despite the favorable analyst ratings. NESR shares gap down

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.