National Energy Services Reunited (NASDAQ:NESR) Trading 8.4% Higher – What’s Next?

National Energy Services Reunited (NASDAQ:NESR)’s stock price rose 8.4% on Thursday . The stock traded as high as $27.24 and last traded at $27.2850. 4,235,115 shares were traded during mid-day trading, an increase of 119% from the average session volume of 1,937,276 shares. The stock had previously closed at $25.17.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NESR. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. UBS Group raised their target price on National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. BTIG Research lifted their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays upped their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Piper Sandler increased their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.86.

National Energy Services Reunited Trading Up 8.1%

The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $24.81 and a 200-day simple moving average of $21.50. The company has a market cap of $2.74 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 0.32 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. The firm’s revenue was up 33.5% compared to the same quarter last year. On average, analysts predict that National Energy Services Reunited will post 1.68 EPS for the current fiscal year.

Insider Transactions at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the stock in a transaction dated Saturday, June 13th. The shares were sold at an average price of $26.90, for a total transaction of $8,953,853.30. Following the sale, the director owned 2,148,792 shares of the company’s stock, valued at approximately $57,802,504.80. This represents a 13.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,209,604 shares of company stock worth $84,286,865 in the last 90 days. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds have recently added to or reduced their stakes in NESR. Royal Bank of Canada grew its stake in shares of National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at $34,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the first quarter valued at $48,000. Osaic Holdings Inc. acquired a new position in National Energy Services Reunited during the 2nd quarter worth $73,000. Finally, State of Wyoming purchased a new stake in National Energy Services Reunited during the 4th quarter worth about $76,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.