National Energy Services Reunited (NASDAQ:NESR) Given Average Recommendation of “Buy” by Brokerages

National Energy Services Reunited (NASDAQ:NESR) has received a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $26.00.

Several research firms recently issued reports on NESR. UBS Group upped their price objective on shares of National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. BTIG Research lifted their target price on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Maxim Group set a $30.00 target price on shares of National Energy Services Reunited in a research report on Monday, January 12th. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Bank of America initiated coverage on National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating on the stock.

National Energy Services Reunited Stock Up 0.4%

Shares of NESR stock opened at $21.51 on Friday. The stock’s 50 day simple moving average is $21.53 and its 200 day simple moving average is $16.13. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $26.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 0.59 and a beta of 0.18.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The firm had revenue of $398.26 million during the quarter. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new stake in shares of National Energy Services Reunited in the fourth quarter valued at approximately $747,000. T. Rowe Price Investment Management Inc. bought a new position in National Energy Services Reunited during the fourth quarter worth $8,496,000. Invesco Ltd. raised its stake in National Energy Services Reunited by 135.2% during the 4th quarter. Invesco Ltd. now owns 174,582 shares of the company’s stock valued at $2,734,000 after purchasing an additional 100,357 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in National Energy Services Reunited by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after purchasing an additional 501 shares during the last quarter. Finally, VARCOV Co. bought a new stake in National Energy Services Reunited in the 4th quarter valued at $398,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.