National Energy Services Reunited (NASDAQ:NESR) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a buy rating in a research report report published on Monday morning.

NESR has been the subject of several other reports. UBS Group boosted their target price on National Energy Services Reunited to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Bank of America began coverage on National Energy Services Reunited in a research report on Friday, January 9th. They issued a “buy” rating for the company. BTIG Research boosted their price objective on National Energy Services Reunited from $16.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Maxim Group set a $30.00 price objective on National Energy Services Reunited in a research report on Monday, January 12th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, National Energy Services Reunited has a consensus rating of “Moderate Buy” and an average target price of $25.86.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock opened at $23.71 on Monday. The firm has a market capitalization of $2.39 billion, a P/E ratio of 44.74, a PEG ratio of 0.36 and a beta of 0.29. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $26.85. The business has a 50-day moving average of $22.54 and a 200-day moving average of $17.71. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The company had revenue of $398.26 million during the quarter. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that National Energy Services Reunited will post 1.53 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after purchasing an additional 1,499 shares during the period. State of Alaska Department of Revenue bought a new stake in National Energy Services Reunited in the 3rd quarter valued at approximately $34,000. Legal & General Group Plc bought a new stake in National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new stake in National Energy Services Reunited in the 1st quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. bought a new stake in National Energy Services Reunited in the 2nd quarter valued at approximately $73,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

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.