National Energy Services Reunited (NASDAQ:NESR) Stock Gets Price Target Trim from UBS Group

National Energy Services Reunited (NASDAQ:NESR) had its price target reduced by UBS Group from $46.00 to $40.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

NESR has been the subject of several other reports. Barclays reduced their target price on National Energy Services Reunited from $41.00 to $37.00 and set an “overweight” rating for the company in a research note on Tuesday. BTIG Research upped their price target on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. National Bank Financial set a $44.00 price target on National Energy Services Reunited in a report on Wednesday, September 30th. Capital One Financial assumed coverage on National Energy Services Reunited in a report on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 price target on the stock. Finally, Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, National Energy Services Reunited presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.12.

National Energy Services Reunited Stock Down 3.4%

Shares of NASDAQ NESR opened at $21.23 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.17 billion, a PE ratio of 15.70, a P/E/G ratio of 0.26 and a beta of 0.57. The company’s fifty day simple moving average is $25.44 and its 200 day simple moving average is $25.57. National Energy Services Reunited has a 12-month low of $12.77 and a 12-month high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. National Energy Services Reunited had a net margin of 6.02% and a return on equity of 14.07%. The firm had revenue of $504.73 million during the quarter, compared to the consensus estimate of $495.93 million. As a group, sell-side analysts forecast that National Energy Services Reunited will post 1.66 earnings per share for the current fiscal year.

National Energy Services Reunited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, December 3rd.

Insider Transactions at National Energy Services Reunited

In other news, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction dated 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 owned 549,763 shares in the company, valued at $19,307,676.56. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,894 shares of company stock valued at $6,221,414 over the last three months. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NESR. Dimensional Fund Advisors LP raised its stake in shares of National Energy Services Reunited by 103.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after purchasing an additional 997,300 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of National Energy Services Reunited during the first quarter valued at approximately $19,045,000. Arrowstreet Capital Limited Partnership grew its holdings in National Energy Services Reunited by 75.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after buying an additional 365,217 shares in the last quarter. Voya Investment Management LLC grew its holdings in National Energy Services Reunited by 16.4% during the third quarter. Voya Investment Management LLC now owns 1,719,177 shares of the company’s stock worth $43,787,000 after buying an additional 242,014 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in National Energy Services Reunited during the second quarter worth $5,724,000. 15.55% of the stock is owned by institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells. The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.