National Energy Services Reunited (NASDAQ:NESR) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

NESR has been the subject of several other research reports. BTIG Research increased 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 research note on Monday, August 10th. Barclays boosted their price target 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. Piper Sandler reduced their price objective on National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, UBS Group decreased 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 report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.44.

National Energy Services Reunited Stock Down 1.0%

NESR stock opened at $24.67 on Friday. The company has a fifty day moving average price of $31.86 and a 200 day moving average price of $27.36. National Energy Services Reunited has a 12 month low of $9.95 and a 12 month high of $36.94. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly 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. The firm had revenue of $520.75 million during the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business’s quarterly revenue was up 59.1% on a year-over-year basis. Sell-side analysts expect that National Energy Services Reunited will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Stefan Angeli sold 13,570 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the sale, the director directly owned 696,398 shares in the company, valued at approximately $24,687,309.10. The trade was a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 176,894 shares of company stock valued at $6,221,414. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 997,300 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of National Energy Services Reunited in the first quarter valued at approximately $19,045,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of National Energy Services Reunited by 75.9% during the first 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 during the period. HITE Hedge Asset Management LLC lifted its stake in shares of National Energy Services Reunited by 43.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after buying an additional 279,543 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of National Energy Services Reunited by 39.2% during the second quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock valued at $14,265,000 after buying an additional 134,316 shares during the period. Institutional investors and hedge funds own 15.55% of the company’s stock.

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.