National Energy Services Reunited (NASDAQ:NESR) Coverage Initiated by Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets started coverage on shares of National Energy Services Reunited (NASDAQ:NESR) in a research note issued on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $39.00 price target on the stock. BMO Capital Markets’ price target points to a potential upside of 61.96% from the stock’s previous close.

A number of other equities analysts have also commented on NESR. Capital One Financial began coverage on shares of National Energy Services Reunited in a research report on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 price objective for the company. Piper Sandler upped their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. National Bank Financial set a $44.00 target price on shares of National Energy Services Reunited in a research note on Wednesday, September 30th. UBS Group cut their price target on shares of National Energy Services Reunited from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, September 29th. Finally, Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $38.44.

National Energy Services Reunited Price Performance

NESR traded down $0.59 during trading on Thursday, reaching $24.08. 2,978,357 shares of the company were exchanged, compared to its average volume of 2,029,426. National Energy Services Reunited has a 12-month low of $9.95 and a 12-month high of $36.94. The company’s 50-day moving average is $31.86 and its two-hundred day moving average is $27.41. 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 market cap of $2.43 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 0.24 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, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The business had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. The company’s revenue was up 59.1% compared to the same quarter last year. Research analysts forecast that National Energy Services Reunited will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In other news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction on 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 transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the sale, the director owned 696,398 shares in the company, valued at approximately $24,687,309.10. This trade represents a 8.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 176,894 shares of company stock worth $6,221,414 over the last three months. 9.70% of the stock is owned by insiders.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after purchasing an additional 997,300 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of National Energy Services Reunited during the 1st quarter valued at about $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 valued at $18,176,000 after buying an additional 365,217 shares in the last quarter. HITE Hedge Asset Management LLC lifted its position in 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 worth $14,398,000 after buying an additional 279,543 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in National Energy Services Reunited in the 2nd quarter worth approximately $5,724,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

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.