National Energy Services Reunited (NASDAQ:NESR) Downgraded by Wall Street Zen to Buy

Wall Street Zen downgraded shares of National Energy Services Reunited (NASDAQ:NESR) from a strong-buy rating to a buy rating in a research report report published on Monday.

A number of other brokerages have also commented on NESR. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a report on Friday, January 9th. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Maxim Group set a $30.00 price target on shares of National Energy Services Reunited in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Finally, BTIG Research increased their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.86.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock opened at $23.53 on Monday. The firm’s 50 day simple moving average is $22.43 and its 200 day simple moving average is $17.57. The firm has a market capitalization of $2.37 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 0.37 and a beta of 0.29. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $26.85. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The firm 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%. National Energy Services Reunited’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts expect that National Energy Services Reunited will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently made changes to their positions in NESR. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 38.2% during the 1st quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after purchasing an additional 149,796 shares during the last quarter. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter valued at $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter valued at $48,000. Geode Capital Management LLC grew its holdings in shares of National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after purchasing an additional 780,180 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of National Energy Services Reunited during the 2nd quarter valued at $34,000. 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.