National Energy Services Reunited (NASDAQ:NESR) Announces Quarterly Earnings Results

National Energy Services Reunited (NASDAQ:NESR – Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09, FiscalAI reports. The business had revenue of $520.75 million for the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $29.02 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.93 billion, a P/E ratio of 44.65, a P/E/G ratio of 0.34 and a beta of 0.33. National Energy Services Reunited has a 1-year low of $6.52 and a 1-year high of $30.31. The firm has a 50-day moving average of $26.79 and a 200-day moving average of $24.21.

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Insider Buying and Selling

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was 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 trade represents a 89.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 5,129,198 shares of company stock worth $135,731,984. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds have recently made changes to their positions in NESR. Mercer Global Advisors Inc. ADV increased its holdings in shares of National Energy Services Reunited by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after purchasing an additional 501 shares in the last quarter. Ieq Capital LLC lifted its position in shares of National Energy Services Reunited by 1.0% in 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. Royal Bank of Canada boosted its stake in National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares during the last quarter. Mariner LLC grew its holdings in National Energy Services Reunited by 13.8% during the 4th quarter. Mariner LLC now owns 18,255 shares of the company’s stock valued at $286,000 after buying an additional 2,213 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in National Energy Services Reunited by 8.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 34,807 shares of the company’s stock worth $546,000 after acquiring an additional 2,739 shares during the last quarter. 15.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NESR. Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. BTIG Research reissued a “buy” rating and issued a $32.00 price target on shares of National Energy Services Reunited in a research note on Friday, July 10th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Finally, UBS Group boosted their target price on National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. One 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.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.71.

Check Out Our Latest Research Report on NESR

National Energy Services Reunited Company Profile

(Get Free Report)

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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