National Energy Services Reunited (NASDAQ:NESR) Receives $14.60 Average PT from Brokerages

Shares of National Energy Services Reunited (NASDAQ:NESR) have received an average recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.60.

A number of equities research analysts have issued reports on NESR shares. Piper Sandler upped their price objective on National Energy Services Reunited from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded National Energy Services Reunited from a “hold” rating to a “buy” rating in a research report on Monday, August 25th.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC raised its position in 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 valued at $55,419,000 after purchasing an additional 382,640 shares during the period. Fort Baker Capital Management LP purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $27,670,000. Balyasny Asset Management L.P. purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $20,330,000. Dodge & Cox raised its holdings in shares of National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock worth $12,864,000 after buying an additional 1,428,200 shares during the period. Finally, GeoSphere Capital Management LLC purchased a new stake in shares of National Energy Services Reunited in the fourth quarter worth approximately $10,443,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock opened at $9.53 on Wednesday. The stock has a 50 day moving average of $7.19 and a 200 day moving average of $6.91. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $9.89. The firm has a market cap of $919.17 million, a PE ratio of 12.38 and a beta of 0.37. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. National Energy Services Reunited had a return on equity of 9.91% and a net margin of 5.57%.The company had revenue of $327.37 million during the quarter, compared to analyst estimates of $316.07 million. On average, research analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

National Energy Services Reunited Company Profile

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.