National Energy Services Reunited (NASDAQ:NESR) Stock Rating Raised to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of National Energy Services Reunited (NASDAQ:NESR) to a strong-buy rating in a research report released on Thursday,Zacks reports.

NESR has been the subject of several other reports. BTIG Research increased their price objective on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 10th. Barclays increased their price target on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Capital One Financial began coverage on National Energy Services Reunited in a research note on Wednesday. They issued an “overweight” rating and a $44.00 price objective on the stock. Finally, Piper Sandler upped their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $38.00.

National Energy Services Reunited Stock Performance

NESR stock opened at $24.93 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 0.23 and a beta of 0.48. National Energy Services Reunited has a 1 year low of $9.95 and a 1 year high of $36.94. The stock’s fifty day moving average is $31.91 and its two-hundred day moving average is $27.38.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. The business had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The company’s quarterly revenue was up 59.1% compared to the same quarter last year. On average, research analysts predict that National Energy Services Reunited will post 1.88 EPS for the current year.

Insider Buying and Selling

In other news, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the sale, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the transaction, the director owned 696,398 shares of the company’s stock, valued at $24,687,309.10. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 176,894 shares of company stock worth $6,221,414 in the last three months. 9.70% of the stock is currently owned by insiders.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently bought and sold shares of NESR. Integrated Wealth Concepts LLC acquired a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $45,000. Allworth Financial LP grew its position in National Energy Services Reunited by 51.0% during the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after purchasing an additional 649 shares in the last quarter. USA Financial Formulas grew its position in National Energy Services Reunited by 63.0% during the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after purchasing an additional 871 shares in the last quarter. Globeflex Capital L P purchased a new position in National Energy Services Reunited during the 1st quarter worth approximately $151,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at $215,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about National Energy Services Reunited

Here are the key news stories impacting National Energy Services Reunited this week:

• Positive Sentiment: BMO Capital initiated coverage with an Outperform rating and a $39 price target. Analyst Phillip Jungwirth cited rapid Middle East and North Africa growth, strong cash generation and potential valuation upside. BMO Capital initiates coverage on NESR
• Positive Sentiment: Capital One began coverage with an Overweight rating and a $44 price target. The target implies substantial upside and adds another favorable institutional view of NESR’s growth prospects. Capital One initiates coverage on NESR
• Positive Sentiment: UBS maintained its Buy rating while adjusting its price target modestly to $46 from $47, signaling continued confidence in the company’s longer-term outlook. UBS adjusts NESR price target
• Positive Sentiment: Recent coverage highlights NESR’s Jafurah ramp-up, new Kuwait and regional awards, rapid revenue growth and lower leverage. Technical analysts also view the stock as oversold after a steep four-week decline, while rising earnings estimates could support a rebound. Zacks NESR turnaround analysis
• Neutral Sentiment: The bullish growth outlook comes with execution risks: sustaining the Jafurah expansion may require higher capital spending and could pressure cash flow. NESR’s richer valuation also leaves less room for operational disappointment. Zacks NESR valuation analysis
• Negative Sentiment: NESR shares recently gapped lower and have lost 23.7% over four weeks, indicating continued technical selling and investor concern despite the favorable analyst ratings. NESR shares gap down

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.