National Energy Services Reunited (NASDAQ:NESR) Stock Has Consensus Target Price of $40.38 According to Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $40.38.

Several equities analysts have recently commented on the company. Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Piper Sandler decreased their price target on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. National Bank Financial set a $44.00 price target on National Energy Services Reunited in a research note on Wednesday, September 30th. Finally, Barclays decreased their price target on National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, October 15th.

Insider Activity at National Energy Services Reunited

In other National Energy Services Reunited news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 696,398 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 176,894 shares of company stock valued at $6,221,414. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of National Energy Services Reunited by 351.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in National Energy Services Reunited during the 2nd quarter worth $45,000. Allworth Financial LP increased its position in National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after acquiring an additional 649 shares during the period. Sterling Capital Management LLC grew its stake in shares of National Energy Services Reunited by 848.6% in the 3rd quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock valued at $52,000 after buying an additional 1,833 shares in the last quarter. Finally, USA Financial Formulas boosted its position in National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after buying an additional 871 shares in the last quarter. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Trading Up 4.0%

National Energy Services Reunited stock opened at $19.96 on Monday. The company’s fifty day moving average price is $26.56 and its two-hundred day moving average price is $25.55. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.24 and a beta of 0.57. National Energy Services Reunited has a one year low of $12.21 and a one year high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm’s revenue for the quarter was up 59.1% compared to the same quarter last year. On average, analysts forecast that National Energy Services Reunited will post 1.66 earnings per share for the current fiscal year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.