National Energy Services Reunited (NASDAQ:NESR) Receives $33.57 Consensus PT from Brokerages

National Energy Services Reunited (NASDAQ:NESR) has received an average rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $33.5714.

Several analysts have recently issued reports on the stock. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. UBS Group lifted their price objective on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Barclays boosted their target price on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Piper Sandler increased their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th.

Insiders Place Their Bets

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the transaction, the chief financial officer owned 549,763 shares in the company, valued at $19,307,676.56. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the transaction, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,340,340 shares of company stock worth $88,944,075. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of National Energy Services Reunited in the second quarter valued at approximately $215,000. California State Teachers Retirement System increased its holdings in National Energy Services Reunited by 59,073.6% during the 2nd quarter. California State Teachers Retirement System now owns 2,162,203 shares of the company’s stock worth $64,715,000 after acquiring an additional 2,158,549 shares during the period. Readystate Asset Management LP bought a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $5,724,000. Oakmont Investment Advisors Inc. purchased a new stake in National Energy Services Reunited in the 2nd quarter worth approximately $542,000. Finally, Navellier & Associates Inc. purchased a new stake in National Energy Services Reunited in the 2nd quarter worth approximately $4,522,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Up 0.2%

NESR stock opened at $33.48 on Wednesday. The stock has a fifty day moving average of $29.14 and a 200-day moving average of $25.46. National Energy Services Reunited has a fifty-two week low of $8.47 and a fifty-two week high of $36.94. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 0.31 and a beta of 0.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $520.75 million for the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.National Energy Services Reunited’s quarterly revenue was up 59.1% compared to the same quarter last year. As a group, equities research analysts predict that National Energy Services Reunited will post 1.82 earnings per share for the current year.

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.