National Energy Services Reunited (NASDAQ:NESR) Receives $15.00 Average Price Target from Analysts

National Energy Services Reunited (NASDAQ:NESR) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

A number of analysts have recently commented on the company. Maxim Group assumed coverage on National Energy Services Reunited in a research report on Tuesday, September 9th. They set a “buy” rating and a $16.00 target price on the stock. Piper Sandler lifted their target price on National Energy Services Reunited from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Saturday, September 27th. Wall Street Zen upgraded National Energy Services Reunited from a “hold” rating to a “buy” rating in a research report on Monday, August 25th. Finally, National Bankshares set a $16.00 target price on National Energy Services Reunited in a research report on Tuesday, September 9th.

National Energy Services Reunited Stock Up 1.3%

NESR opened at $10.29 on Friday. The business’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $7.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11. National Energy Services Reunited has a one year low of $5.20 and a one year high of $10.80. The stock has a market capitalization of $992.47 million, a P/E ratio of 13.36 and a beta of 0.32.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, topping 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 business had revenue of $327.37 million for the quarter, compared to analysts’ expectations of $316.07 million. Analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. acquired a new position in National Energy Services Reunited in the 2nd quarter valued at about $73,000. Encompass Capital Advisors LLC increased its position in National Energy Services Reunited by 4.3% in the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company’s stock valued at $55,419,000 after acquiring an additional 382,640 shares during the period. BNP Paribas Financial Markets increased its position in National Energy Services Reunited by 92.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company’s stock valued at $104,000 after acquiring an additional 8,337 shares during the period. Boothbay Fund Management LLC acquired a new position in National Energy Services Reunited in the 2nd quarter valued at about $138,000. Finally, Bridgeway Capital Management LLC acquired a new position in National Energy Services Reunited in the 2nd quarter valued at about $2,446,000. 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.