Analysts Set National Energy Services Reunited (NASDAQ:NESR) Target Price at $21.00

National Energy Services Reunited (NASDAQ:NESR) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $21.00.

NESR has been the subject of several analyst reports. UBS Group raised shares of National Energy Services Reunited to a “strong-buy” rating in a report on Wednesday, January 21st. BTIG Research lifted their price objective on National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. upped their target price 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. Bank of America assumed coverage on National Energy Services Reunited in a report on Friday, January 9th. They issued a “buy” rating on the stock. Finally, Maxim Group set a $30.00 price objective on National Energy Services Reunited in a report on Monday, January 12th.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new position in shares of National Energy Services Reunited in the third quarter worth about $34,000. Legal & General Group Plc purchased a new position in National Energy Services Reunited in the 2nd quarter worth approximately $34,000. Ameritas Investment Partners Inc. bought a new stake in National Energy Services Reunited in the second quarter valued at approximately $37,000. Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the first quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $73,000. Institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Stock Up 4.5%

NESR stock opened at $20.56 on Friday. The stock has a 50-day simple moving average of $16.39 and a two-hundred day simple moving average of $12.23. National Energy Services Reunited has a twelve month low of $5.20 and a twelve month high of $20.90. The firm has a market capitalization of $1.98 billion, a PE ratio of 28.16, a PEG ratio of 0.57 and a beta of 0.25. The company has a quick ratio of 0.92, a current ratio of 1.10 and a debt-to-equity ratio of 0.22.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $295.32 million for the quarter, compared to the consensus estimate of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. On average, equities analysts predict 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.