National Energy Services Reunited (NASDAQ:NESR) Sees Large Volume Increase – Should You Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) saw an uptick in trading volume on Wednesday. Approximately 2,655,121 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 2,114,102 shares. The stock last traded at $22.1550 and had previously closed at $21.09.

Analyst Ratings Changes

Several research firms recently commented on NESR. Capital One Financial assumed coverage on shares of National Energy Services Reunited in a report on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 price objective for the company. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Wall Street Zen downgraded National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, National Energy Services Reunited currently has an average rating of “Moderate Buy” and a consensus price target of $40.38.

National Energy Services Reunited Stock Performance

The company has a 50-day moving average price of $30.12 and a two-hundred day moving average price of $27.41. The stock has a market capitalization of $2.22 billion, a P/E ratio of 23.89, a PEG ratio of 0.22 and a beta of 0.48. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) 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. The firm’s revenue was up 59.1% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.65 earnings per share for the current year.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction that occurred 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 $24,687,309.10. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sherif Foda sold 100,000 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 176,894 shares of company stock worth $6,221,414 in the last three months. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of National Energy Services Reunited by 45.5% in the third quarter. Nisa Investment Advisors LLC now owns 4,790 shares of the company’s stock worth $122,000 after buying an additional 1,498 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in National Energy Services Reunited by 71.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 202,719 shares of the company’s stock worth $5,163,000 after buying an additional 84,337 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in National Energy Services Reunited during the third quarter worth about $211,000. GK Wealth Management LLC purchased a new position in National Energy Services Reunited during the third quarter worth about $88,000. Finally, Farther Finance Advisors LLC increased its stake in National Energy Services Reunited by 351.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock worth $29,000 after acquiring an additional 885 shares during the last quarter. Institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.