Barclays Issues Positive Forecast for National Energy Services Reunited (NASDAQ:NESR) Stock Price

National Energy Services Reunited (NASDAQ:NESR) had its price target boosted by Barclays from $33.00 to $34.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. National Bank Financial set a $21.00 price objective on National Energy Services Reunited in a report on Friday, January 9th. UBS Group boosted their price objective on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Finally, Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a research report on Monday, January 12th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

National Energy Services Reunited Stock Down 1.1%

NESR opened at $23.10 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 0.36 and a beta of 0.38. National Energy Services Reunited has a twelve month low of $5.47 and a twelve month high of $26.85. The company’s 50-day moving average price is $22.70 and its two-hundred day moving average price is $18.65.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The company had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts expect that National Energy Services Reunited will post 1.53 earnings per share for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors have recently added to or reduced their stakes in NESR. Royal Bank of Canada grew its holdings in National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of National Energy Services Reunited in the third quarter worth about $34,000. State of Wyoming bought a new position in shares of National Energy Services Reunited in the fourth quarter valued at approximately $76,000. Clearstead Advisors LLC boosted its position in shares of National Energy Services Reunited by 180.1% in the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after acquiring an additional 3,171 shares during the period. Finally, Legal & General Group Plc purchased a new position in National Energy Services Reunited during the second quarter valued at approximately $34,000. 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.