National Energy Services Reunited (NASDAQ:NESR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a strong sell rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other analysts also recently commented on NESR. Wall Street Zen downgraded shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler upped their target price on shares of National Energy Services Reunited from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. National Bankshares set a $16.00 price target on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. JPMorgan Chase & Co. lifted their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, National Energy Services Reunited presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

National Energy Services Reunited Price Performance

NASDAQ NESR opened at $13.18 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. National Energy Services Reunited has a 1-year low of $5.20 and a 1-year high of $14.50. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 17.34 and a beta of 0.38. The business’s fifty day moving average price is $11.01 and its 200-day moving average price is $8.16.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $327.37 million during the quarter, compared to analyst estimates of $316.07 million. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. On average, equities analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Several large investors have recently bought and sold shares of NESR. TD Waterhouse Canada Inc. lifted its stake in shares of National Energy Services Reunited by 21.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock valued at $125,000 after purchasing an additional 2,100 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in National Energy Services Reunited during the 3rd quarter worth about $34,000. Legal & General Group Plc purchased a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $34,000. Ameritas Investment Partners Inc. purchased a new stake in shares of National Energy Services Reunited during the 2nd quarter worth approximately $37,000. Finally, Acadian Asset Management LLC purchased a new position in National Energy Services Reunited during the 1st quarter worth approximately $48,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.