National Energy Services Reunited (NASDAQ:NESR) Reaches New 1-Year High – Time to Buy?

National Energy Services Reunited (NASDAQ:NESR)’s share price reached a new 52-week high on Tuesday . The company traded as high as $20.92 and last traded at $20.8050, with a volume of 34320 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 29th. Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. UBS Group upgraded National Energy Services Reunited to a “strong-buy” rating in a report on Wednesday, January 21st. National Bankshares set a $21.00 target price on National Energy Services Reunited in a research note on Friday, January 9th. Finally, Piper Sandler upped their price target on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $21.00.

National Energy Services Reunited Price Performance

The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 0.57 and a beta of 0.25. The stock has a 50-day moving average price of $16.39 and a 200 day moving average price of $12.23. The company has a current ratio of 1.10, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $295.32 million during 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, equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NESR. Citadel Advisors LLC acquired a new position in National Energy Services Reunited during the 3rd quarter worth $22,722,000. Dodge & Cox increased its holdings in shares of National Energy Services Reunited by 201.6% in the 2nd quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after acquiring an additional 1,428,200 shares during the last quarter. Geode Capital Management LLC raised its position in shares of National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after acquiring an additional 780,180 shares in the last quarter. CenterBook Partners LP purchased a new stake in National Energy Services Reunited during the second quarter worth approximately $4,562,000. Finally, MMCAP International Inc. SPC acquired a new position in National Energy Services Reunited in the second quarter valued at approximately $3,620,000. 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 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.