Wall Street Zen Upgrades National Energy Services Reunited (NASDAQ:NESR) to “Strong-Buy”

National Energy Services Reunited (NASDAQ:NESR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts also recently commented on the company. Barclays lifted their price objective on National Energy Services Reunited to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Piper Sandler increased their target price on National Energy Services Reunited from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. BTIG Research raised their price target on National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Bank of America assumed coverage on National Energy Services Reunited in a research note 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 research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, National Energy Services Reunited has a consensus rating of “Buy” and a consensus target price of $26.00.

National Energy Services Reunited Price Performance

Shares of National Energy Services Reunited stock opened at $19.14 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $26.85. The company has a fifty day moving average of $20.77 and a 200-day moving average of $15.34. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 0.52 and a beta of 0.17.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Tuesday, February 17th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $398.26 million for the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The company’s revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. bought a new position in National Energy Services Reunited during the 4th quarter valued at approximately $8,496,000. Invesco Ltd. grew its position in shares of National Energy Services Reunited by 135.2% in the 4th quarter. Invesco Ltd. now owns 174,582 shares of the company’s stock worth $2,734,000 after buying an additional 100,357 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of National Energy Services Reunited by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock worth $174,000 after buying an additional 501 shares during the last quarter. VARCOV Co. purchased a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $398,000. Finally, SummitTX Capital L.P. bought a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $7,598,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

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.