National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $17.00

National Energy Services Reunited (NASDAQ:NESR) had its price objective increased by investment analysts at Barclays from $16.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 123.68% from the stock’s current price.

A number of other research analysts also recently commented on NESR. JPMorgan Chase & Co. assumed coverage on shares of National Energy Services Reunited in a research note on Friday, December 6th. They set an “overweight” rating and a $13.00 price objective on the stock. Benchmark assumed coverage on shares of National Energy Services Reunited in a report on Tuesday, January 21st. They issued a “buy” rating and a $15.00 price objective on the stock.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $7.60 on Thursday. The firm has a fifty day moving average of $8.85 and a 200-day moving average of $8.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.10 and a quick ratio of 0.91. National Energy Services Reunited has a 52-week low of $7.29 and a 52-week high of $10.30.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $343.68 million during the quarter, compared to analysts’ expectations of $339.84 million. As a group, analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several large investors have recently bought and sold shares of NESR. R Squared Ltd bought a new position in shares of National Energy Services Reunited during the 4th quarter valued at about $41,000. Tower Research Capital LLC TRC acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth approximately $49,000. National Bank of Canada FI acquired a new stake in shares of National Energy Services Reunited during the fourth quarter worth approximately $74,000. TD Waterhouse Canada Inc. bought a new position in National Energy Services Reunited during the fourth quarter valued at approximately $89,000. Finally, Robotti Robert bought a new position in National Energy Services Reunited during the fourth quarter valued at approximately $90,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company’s Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.