National Energy Services Reunited (NASDAQ:NESR) Rating Lowered to Buy at Wall Street Zen
by Mitch Edgeman · The Markets DailyNational Energy Services Reunited (NASDAQ:NESR – Get Free Report) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.
Several other analysts also recently weighed in on NESR. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. UBS Group raised their price objective on National Energy Services Reunited to $31.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Barclays lifted their price objective on National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Finally, Bank of America began coverage on National Energy Services Reunited in a research report on Friday, January 9th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.00.
View Our Latest Analysis on National Energy Services Reunited
National Energy Services Reunited Price Performance
Shares of NASDAQ NESR opened at $22.64 on Friday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 42.72, a PEG ratio of 0.62 and a beta of 0.29. National Energy Services Reunited has a one year low of $5.20 and a one year high of $26.85. The firm’s 50 day simple moving average is $21.79 and its two-hundred day simple moving average is $16.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 0.89.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm had revenue of $398.26 million during the quarter. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.
Hedge Funds Weigh In On National Energy Services Reunited
Several hedge funds and other institutional investors have recently modified their holdings of NESR. Encompass Capital Advisors LLC boosted its holdings in shares of National Energy Services Reunited by 4.3% during the second quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock worth $55,419,000 after purchasing an additional 382,640 shares during the period. Dodge & Cox increased its holdings in National Energy Services Reunited by 5.6% during the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares during the period. Citadel Advisors LLC bought a new position in National Energy Services Reunited during the 3rd quarter valued at approximately $22,722,000. Boston Partners lifted its holdings in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares during the period. Finally, Millennium Management LLC lifted its holdings in National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares during the period. 15.55% of the stock is owned by 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.