National Energy Services Reunited (NASDAQ:NESR) Cut to “Hold” at Zacks Research

National Energy Services Reunited (NASDAQ:NESR) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a report on Monday, January 12th. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a research report on Friday, January 9th. BTIG Research raised their price objective on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Bank of America began coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

National Energy Services Reunited Trading Down 4.1%

Shares of National Energy Services Reunited stock opened at $20.52 on Wednesday. The firm’s 50 day moving average is $17.43 and its 200 day moving average is $12.95. The firm has a market capitalization of $1.98 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 0.62 and a beta of 0.25. National Energy Services Reunited has a 1 year low of $5.20 and a 1 year high of $21.60. 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 issued its earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The business had revenue of $295.32 million during the quarter, compared to analysts’ expectations of $292.46 million. Equities research analysts forecast that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in National Energy Services Reunited in the third quarter valued at $34,000. State of Wyoming purchased a new stake in shares of National Energy Services Reunited in the 4th quarter worth about $76,000. Clearstead Advisors LLC lifted its position in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after purchasing an additional 3,171 shares during the period. Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at about $34,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of National Energy Services Reunited during the second quarter valued at about $37,000. Hedge funds and other institutional investors 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.