National Energy Services Reunited (NASDAQ:NESR) Stock Rating Upgraded by UBS Group

National Energy Services Reunited (NASDAQ:NESR) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their price target on National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Monday, December 29th. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Finally, Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $21.00.

National Energy Services Reunited Stock Up 3.5%

Shares of NASDAQ:NESR traded up $0.71 during trading hours on Wednesday, hitting $20.81. The company’s stock had a trading volume of 129,664 shares, compared to its average volume of 1,126,968. The firm’s fifty day moving average price is $15.54 and its 200 day moving average price is $11.48. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $20.90. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 0.57 and a beta of 0.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.10 and a quick ratio of 0.92.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. As a group, research analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of National Energy Services Reunited in the third quarter valued at about $5,543,000. Boston Partners boosted its position in National Energy Services Reunited by 240.0% in the second quarter. Boston Partners now owns 166,945 shares of the company’s stock valued at $1,005,000 after buying an additional 117,840 shares during the last quarter. Kazazian Asset Management LLC increased its holdings in National Energy Services Reunited by 46.0% in the 2nd quarter. Kazazian Asset Management LLC now owns 83,650 shares of the company’s stock worth $504,000 after buying an additional 26,350 shares during the period. Russell Investments Group Ltd. raised its position in National Energy Services Reunited by 109.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 444,885 shares of the company’s stock worth $2,678,000 after buying an additional 232,830 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at approximately $350,000. 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 a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.