National Energy Services Reunited (NASDAQ:NESR – Get Free Report) has earned a consensus recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $29.7143.
Several brokerages recently commented on NESR. Weiss Ratings cut National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of National Energy Services Reunited in a report on Friday, July 10th. Piper Sandler increased their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, UBS Group raised their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th.
Check Out Our Latest Report on National Energy Services Reunited
National Energy Services Reunited Trading Up 2.0%
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The company’s revenue was up 33.5% compared to the same quarter last year. As a group, equities analysts predict that National Energy Services Reunited will post 1.74 earnings per share for the current fiscal year.
Insider Transactions at National Energy Services Reunited
In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the sale, the director owned 229,198 shares in the company, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its position in shares of National Energy Services Reunited by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after purchasing an additional 501 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of National Energy Services Reunited by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in National Energy Services Reunited by 4.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock worth $306,000 after buying an additional 772 shares in the last quarter. Ieq Capital LLC lifted its position in National Energy Services Reunited by 1.0% during the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after buying an additional 842 shares in the last quarter. Finally, CWM LLC boosted its stake in National Energy Services Reunited by 2.9% during the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock worth $472,000 after buying an additional 845 shares during the last quarter. 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.
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