National Energy Services Reunited (NASDAQ:NESR) Stock Has Consensus Target Price of $40.38 According to Brokerages

National Energy Services Reunited (NASDAQ:NESR) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $40.38.

Several research analysts have commented on NESR shares. Capital One Financial started coverage on shares of National Energy Services Reunited in a research note on Wednesday, September 30th. They set an “overweight” rating and a $44.00 price objective for the company. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. National Bank Financial set a $44.00 target price on shares of National Energy Services Reunited in a report on Wednesday, September 30th. Wall Street Zen lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, BTIG Research lifted their price target on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 10th.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock opened at $21.49 on Monday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.24 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The stock has a 50 day moving average price of $27.15 and a 200-day moving average price of $25.54. National Energy Services Reunited has a one year low of $12.20 and a one year high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. The business’s quarterly revenue was up 59.1% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.66 EPS for the current year.

Insider Buying and Selling

In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the transaction, the director owned 696,398 shares in the company, valued at $24,687,309.10. The trade was a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sherif Foda sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.00, for a total value of $3,500,000.00. Following the transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at approximately $107,962,505. This represents a 3.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 176,894 shares of company stock valued at $6,221,414 in the last ninety days. 9.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Holding SA boosted its holdings in National Energy Services Reunited by 10.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 10,906 shares of the company’s stock valued at $278,000 after acquiring an additional 1,000 shares during the period. Alps Advisors Inc. purchased a new stake in National Energy Services Reunited in the third quarter worth $451,000. Profund Advisors LLC purchased a new stake in National Energy Services Reunited in the third quarter worth $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in National Energy Services Reunited by 581.9% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 49,100 shares of the company’s stock worth $1,251,000 after purchasing an additional 41,900 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of National Energy Services Reunited by 848.6% during the third quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after purchasing an additional 1,833 shares during the last quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.