National Energy Services Reunited (NASDAQ:NESR – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.
Several other brokerages have also recently issued reports on NESR. BTIG Research lifted their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Piper Sandler boosted their price target on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. 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. Finally, UBS Group increased their target price on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.43.
Read Our Latest Stock Report on National Energy Services Reunited
National Energy Services Reunited Price Performance
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business’s revenue was up 33.5% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.68 EPS for the current year.
Insider Buying and Selling at National Energy Services Reunited
In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of National Energy Services Reunited stock in a transaction on 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 of the company’s stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 5,129,198 shares of company stock worth $135,731,984. 9.70% of the stock is currently owned by company insiders.
Institutional Trading of National Energy Services Reunited
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in National Energy Services Reunited in the third quarter worth about $22,722,000. Boston Partners raised its position in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Millennium Management LLC increased its stake in shares of National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after buying an additional 1,159,372 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after buying an additional 997,300 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in National Energy Services Reunited during the 1st quarter worth about $19,045,000. 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.
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