National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $28.00

National Energy Services Reunited (NASDAQ:NESR) had its target price lifted by BTIG Research from $16.00 to $28.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also issued reports on NESR. UBS Group raised shares of National Energy Services Reunited to a “strong-buy” rating in a research note on Wednesday, January 21st. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. Wall Street Zen lowered National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Finally, Piper Sandler lifted their price objective on National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited has an average rating of “Moderate Buy” and a consensus target price of $26.00.

National Energy Services Reunited Stock Performance

NESR opened at $24.20 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The company has a market cap of $2.33 billion, a PE ratio of 45.66, a price-to-earnings-growth ratio of 0.70 and a beta of 0.25. The stock has a 50-day moving average of $18.24 and a 200-day moving average of $13.51. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $25.21.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.57% and a net margin of 3.86%.The business had revenue of $398.26 million for the quarter. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, 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

Several hedge funds have recently added to or reduced their stakes in NESR. T. Rowe Price Investment Management Inc. bought a new stake in National Energy Services Reunited during the fourth quarter valued at $8,496,000. Invesco Ltd. increased its holdings in National Energy Services Reunited by 135.2% during the 4th quarter. Invesco Ltd. now owns 174,582 shares of the company’s stock worth $2,734,000 after purchasing an additional 100,357 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in National Energy Services Reunited by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after buying an additional 501 shares during the last quarter. VARCOV Co. purchased a new position in National Energy Services Reunited during the fourth quarter worth about $398,000. Finally, SummitTX Capital L.P. purchased a new position in shares of National Energy Services Reunited in the 4th quarter worth approximately $7,598,000. 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.