National Energy Services Reunited (NASDAQ:NESR) Price Target Cut to $37.00 by Analysts at Barclays

Key Points

• Barclays cut its price target on National Energy Services Reunited to $37 from $41 but maintained an “overweight” rating; the target implied 89.57% upside from the prior close.
• Analyst sentiment remained broadly positive: nine analysts rated the stock a Buy and one a Hold, with an average price target of $39.88.
• NESR beat quarterly expectations, reporting EPS of $0.38 versus $0.36 expected and revenue of $504.73 million versus $495.93 million expected.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) had its price target decreased by Barclays from $41.00 to $37.00 in a report released on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 89.57% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. BTIG Research lifted 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. BMO Capital Markets started coverage on shares of National Energy Services Reunited in a research note on Thursday, October 1st. They set an "outperform" rating and a $39.00 price target for the company. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, November 2nd. Zacks Research downgraded shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 1st. Finally, UBS Group dropped their price objective on shares of National Energy Services Reunited from $47.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.88.

National Energy Services Reunited Stock Performance

Shares of NASDAQ NESR opened at $19.52 on Tuesday. National Energy Services Reunited has a 52-week low of $12.77 and a 52-week high of $36.94. The firm's 50-day moving average price is $26.26 and its 200-day moving average price is $25.55. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.97 billion, a PE ratio of 21.10, a PEG ratio of 0.25 and a beta of 0.57.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Monday, November 9th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm had revenue of $504.73 million for the quarter, compared to the consensus estimate of $495.93 million. As a group, analysts anticipate that National Energy Services Reunited will post 1.66 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mejia Antonio J. Campo sold 63,324 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was 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 directly owned 696,398 shares in the company, valued at approximately $24,687,309.10. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited 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 transaction, the chief executive officer directly owned 3,084,643 shares of the company's stock, valued at $107,962,505. This represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 176,894 shares of company stock valued at $6,221,414 in the last quarter. Insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds have recently bought and sold shares of the business. Thoroughbred Financial Services LLC raised its position in National Energy Services Reunited by 47.8% in the third quarter. Thoroughbred Financial Services LLC now owns 16,973 shares of the company's stock valued at $432,000 after purchasing an additional 5,488 shares during the last quarter. Bessemer Group Inc. bought a new position in National Energy Services Reunited in the third quarter worth approximately $302,000. Russell Investments Group Ltd. boosted its stake in National Energy Services Reunited by 29.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 646,342 shares of the company's stock valued at $16,462,000 after purchasing an additional 145,850 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of National Energy Services Reunited by 10.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 10,906 shares of the company's stock worth $278,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of National Energy Services Reunited in the 3rd quarter worth approximately $451,000. 15.55% of the stock is owned by institutional investors.

Trending Headlines about National Energy Services Reunited

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

• Positive Sentiment: Third-quarter revenue was $504.7 million, about 70% higher year over year and above the $495.9 million consensus estimate. Adjusted EPS of $0.38 also beat the $0.36 estimate and rose from $0.16 a year earlier. Q3 earnings and revenue estimates
• Positive Sentiment: NESR declared a quarterly cash dividend of $0.10 per share—its first—payable December 10 to shareholders of record December 3. That equates to $0.40 annualized, or an indicated yield of about 2%. Dividend announcement
• Positive Sentiment: Management is targeting approximately $2 billion in 2026 revenue, offering investors a growth outlook alongside the dividend announcement. 2026 revenue target and dividend
• Neutral Sentiment: The company is refinancing $747 million in facilities; the headline does not provide terms, so the effect on financing costs or risk is unclear. Refinancing and outlook announcement

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.

Formed in 2017 through the combination of National Petroleum Services and Gulf Energy, NESR serves customers across the Middle East, North Africa and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.