National Energy Services Reunited (NASDAQ:NESR) Stock Moved Down to Buy by Wall Street Zen

Key Points

• Wall Street Zen downgraded NESR from “strong buy” to “buy,” while the broader analyst consensus remains “Buy,” with an average price target of $38.44.
• NESR reported stronger-than-expected quarterly results, with EPS of $0.44 versus a $0.35 estimate and revenue of $520.75 million, up 59.1% year over year.
• The stock opened at $24.67, well below its 12-month high of $36.94; insiders sold approximately $6.2 million worth of shares over the past 90 days.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

NESR has been the topic of several other reports. UBS Group dropped their target price on shares of National Energy Services Reunited from $47.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday. BTIG Research boosted their price target 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 began coverage on shares of National Energy Services Reunited in a research report on Thursday. They issued an "outperform" rating and a $39.00 price target for the company. Citigroup reiterated a "buy" rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of National Energy Services Reunited from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to MarketBeat, National Energy Services Reunited has a consensus rating of "Buy" and an average price target of $38.44.

National Energy Services Reunited Trading Down 1.0%

Shares of NASDAQ NESR opened at $24.67 on Friday. National Energy Services Reunited has a twelve month low of $9.95 and a twelve month high of $36.94. The firm has a market cap of $2.49 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 0.24 and a beta of 0.48. The business has a fifty day simple moving average of $31.86 and a two-hundred day simple moving average of $27.36. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. The business had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The business's revenue was up 59.1% compared to the same quarter last year. Analysts expect that National Energy Services Reunited will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In related news, CEO Sherif Foda sold 100,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the business's stock in a transaction dated 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 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 176,894 shares of company stock worth $6,221,414. Company insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On National Energy Services Reunited

A number of institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of National Energy Services Reunited in the second quarter worth approximately $45,000. USA Financial Formulas raised its stake in National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company's stock valued at $48,000 after purchasing an additional 871 shares during the last quarter. Allworth Financial LP lifted its holdings 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 purchasing an additional 649 shares in the last quarter. Globeflex Capital L P acquired a new stake in National Energy Services Reunited during the 1st quarter worth $151,000. Finally, First Trust Advisors LP purchased a new stake in shares of National Energy Services Reunited during the first quarter worth $203,000. Institutional investors and hedge funds own 15.55% of the company's stock.

About National Energy Services Reunited

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.

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