National Energy Services Reunited (NASDAQ:NESR) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view: NESR has an average “Buy” rating from nine brokerages, with a consensus 12-month price target of $33.57. UBS and BTIG recently raised their price targets to $45 and $40, respectively.
• Quarterly results exceeded expectations: The company reported earnings of $0.44 per share versus the $0.35 consensus estimate, while revenue rose 59.1% year over year to $520.75 million.
• Insiders have been selling shares: Company insiders sold 2.1 million shares worth approximately $57.7 million over the past 90 days, while institutional investors own 15.55% of NESR.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have been assigned an average rating of "Buy" from the nine brokerages that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $33.5714.

A number of research analysts have commented 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 research note on Monday, August 10th. Weiss Ratings upgraded shares of National Energy Services Reunited from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Zacks Research raised National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. UBS Group raised their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Piper Sandler upped their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th.

Insider Buying and Selling

In related news, CEO Sherif Foda sold 100,000 shares of the stock in a transaction on Monday, August 31st. The stock was 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. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer owned 549,763 shares in the company, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,096,488 shares of company stock worth $57,666,533. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of National Energy Services Reunited

Several hedge funds have recently made changes to their positions in NESR. Citadel Advisors LLC purchased a new stake in shares of National Energy Services Reunited in the third quarter valued at about $22,722,000. California State Teachers Retirement System raised its holdings in National Energy Services Reunited by 59,073.6% during the second quarter. California State Teachers Retirement System now owns 2,162,203 shares of the company's stock worth $64,715,000 after purchasing an additional 2,158,549 shares in the last quarter. Boston Partners raised its holdings in National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company's stock worth $30,594,000 after purchasing an additional 1,189,035 shares in the last quarter. Millennium Management LLC lifted its position in National Energy Services Reunited by 1,482.3% in the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company's stock valued at $19,381,000 after purchasing an additional 1,159,372 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in 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 valued at $42,088,000 after purchasing an additional 997,300 shares during the period. Institutional investors and hedge funds own 15.55% of the company's stock.

National Energy Services Reunited Price Performance

NESR stock opened at $33.54 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.38 billion, a P/E ratio of 36.46, a PEG ratio of 0.32 and a beta of 0.39. The business has a 50 day simple moving average of $31.17 and a 200-day simple moving average of $26.57. National Energy Services Reunited has a twelve month low of $9.92 and a twelve month high of $36.94.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million for the quarter, compared to analysts' expectations of $448.54 million. The firm's revenue was up 59.1% compared to the same quarter last year. As a group, equities analysts anticipate that National Energy Services Reunited will post 1.82 EPS for the current year.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.

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