National Energy Services Reunited’s (NESR) Buy Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of National Energy Services Reunited (NASDAQ:NESR) in a report released on Friday,Benzinga reports. BTIG Research currently has a $32.00 price target on the stock.

NESR has been the topic of a number of other reports. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. UBS Group upped their target price on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Barclays increased their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Piper Sandler boosted their price target on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $29.43.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR traded up $0.74 during midday trading on Friday, reaching $28.62. 1,794,247 shares of the company’s stock traded hands, compared to its average volume of 2,649,490. The company has a fifty day simple moving average of $25.81 and a two-hundred day simple moving average of $22.58. National Energy Services Reunited has a 1 year low of $5.91 and a 1 year high of $30.31. The company has a market cap of $2.89 billion, a P/E ratio of 44.03, a PEG ratio of 0.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities analysts predict that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

Insider Activity

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction 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 trade represents a 89.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 5,129,198 shares of company stock valued at $135,731,984. 9.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted 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 worth $30,000 after buying an additional 1,499 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $34,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the first quarter valued at $48,000. Osaic Holdings Inc. acquired a new stake in National Energy Services Reunited in the second quarter valued at $73,000. Finally, State of Wyoming purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $76,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.