National Energy Services Reunited (NASDAQ:NESR) Reaches New 12-Month High on Analyst Upgrade

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $18.00 and last traded at $17.59, with a volume of 107412 shares trading hands. The stock had previously closed at $17.80.

A number of other equities research analysts also recently weighed in on the company. BTIG Research increased their price target on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Wall Street Zen cut shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Piper Sandler boosted their price target on shares of National Energy Services Reunited from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $19.57.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NESR. Wealth Enhancement Advisory Services LLC lifted its stake in shares of National Energy Services Reunited by 4.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company’s stock valued at $306,000 after purchasing an additional 772 shares during the period. TD Waterhouse Canada Inc. raised its holdings in National Energy Services Reunited by 21.2% in the third quarter. TD Waterhouse Canada Inc. now owns 12,000 shares of the company’s stock worth $125,000 after purchasing an additional 2,100 shares in the last quarter. SG Americas Securities LLC lifted its position in National Energy Services Reunited by 25.6% during the fourth quarter. SG Americas Securities LLC now owns 14,901 shares of the company’s stock valued at $233,000 after buying an additional 3,040 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of National Energy Services Reunited during the 3rd quarter valued at $34,000. Finally, Legal & General Group Plc bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $34,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Up 0.9%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10. The stock’s 50-day moving average price is $14.96 and its two-hundred day moving average price is $11.05. The stock has a market capitalization of $1.78 billion, a PE ratio of 22.58, a P/E/G ratio of 0.53 and a beta of 0.23.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. National Energy Services Reunited had a return on equity of 8.24% and a net margin of 5.53%.The company had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. As a group, analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

About National Energy Services Reunited

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.