National Energy Services Reunited (NASDAQ:NESR) Given New $16.00 Price Target at BTIG Research

National Energy Services Reunited (NASDAQ:NESR) had its target price upped by BTIG Research from $12.00 to $16.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on NESR. JPMorgan Chase & Co. upped their price target on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Wall Street Zen cut National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler lifted their target price on National Energy Services Reunited from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Maxim Group started coverage on National Energy Services Reunited in a research note on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target for the company. Finally, National Bankshares set a $16.00 price objective on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.29.

National Energy Services Reunited Stock Down 1.6%

Shares of National Energy Services Reunited stock traded down $0.22 during trading on Thursday, reaching $13.75. The company had a trading volume of 1,589,689 shares, compared to its average volume of 1,304,391. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11. National Energy Services Reunited has a fifty-two week low of $5.20 and a fifty-two week high of $14.50. The firm’s fifty day moving average is $11.25 and its 200-day moving average is $8.29. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 18.84 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.32% and a net margin of 5.53%.The firm had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. On average, analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NESR. Victory Capital Management Inc. purchased a new position in National Energy Services Reunited during the 1st quarter worth approximately $235,000. Y Intercept Hong Kong Ltd bought a new stake in National Energy Services Reunited during the first quarter worth approximately $92,000. XTX Topco Ltd bought a new position in National Energy Services Reunited in the 1st quarter worth $115,000. Kazazian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth approximately $422,000. Finally, Russell Investments Group Ltd. raised its stake in National Energy Services Reunited by 6.1% during the 1st quarter. Russell Investments Group Ltd. now owns 212,055 shares of the company’s stock valued at $1,561,000 after purchasing an additional 12,216 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. 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.