National Energy Services Reunited (NASDAQ:NESR) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is moderately bullish: Ten brokerages give National Energy Services Reunited a consensus “Moderate Buy” rating, with eight buys and two holds. The average 12-month price target is $40.38, well above the reported $21.31 opening price.
• Latest quarterly results exceeded expectations: NESR reported adjusted EPS of $0.44 versus the $0.35 consensus estimate and revenue of $520.75 million, up 59.1% year over year and ahead of forecasts.
• Insiders have recently reduced their holdings: Executives sold a combined 176,894 shares worth approximately $6.22 million in the latest quarter, although insiders still own 9.70% of the company.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $40.38.

A number of research firms have weighed in on NESR. National Bank Financial set a $44.00 price objective on shares of National Energy Services Reunited in a research report on Wednesday, September 30th. BMO Capital Markets began coverage on National Energy Services Reunited in a research note on Thursday, October 1st. They issued an "outperform" rating and a $39.00 price target for the company. BTIG Research lifted their price objective 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. Weiss Ratings cut shares of National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 14th. Finally, Capital One Financial assumed coverage on shares of National Energy Services Reunited in a report on Wednesday, September 30th. They set an "overweight" rating and a $44.00 price objective on the stock.

National Energy Services Reunited Price Performance

Shares of NESR opened at $21.31 on Monday. The business's 50-day moving average is $27.89 and its two-hundred day moving average is $25.50. National Energy Services Reunited has a fifty-two week low of $11.84 and a fifty-two week high of $36.94. The company has a market capitalization of $2.15 billion, a P/E ratio of 23.16, a P/E/G ratio of 0.25 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The business had revenue of $520.75 million for the quarter, compared to analysts' expectations of $448.54 million. National Energy Services Reunited's revenue was up 59.1% on a year-over-year basis. Research analysts predict that National Energy Services Reunited will post 1.66 earnings per share for the current year.

Insider Activity at National Energy Services Reunited

In related news, CFO Stefan Angeli sold 13,570 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares of the company's stock, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sherif Foda sold 100,000 shares of the stock in a transaction that occurred 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 owned 3,084,643 shares in the company, valued at $107,962,505. This represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 176,894 shares of company stock worth $6,221,414 in the last quarter. 9.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of National Energy Services Reunited by 51.0% in the second quarter. Allworth Financial LP now owns 1,921 shares of the company's stock valued at $57,000 after purchasing an additional 649 shares during the period. USA Financial Formulas raised its holdings in shares of National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company's stock worth $48,000 after purchasing an additional 871 shares during the period. Farther Finance Advisors LLC grew its holdings in National Energy Services Reunited by 351.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company's stock valued at $29,000 after purchasing an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited during the 2nd quarter worth $45,000. Finally, Nisa Investment Advisors LLC grew its position in shares of National Energy Services Reunited by 45.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,790 shares of the company's stock valued at $122,000 after buying an additional 1,498 shares during the last quarter. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR's services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.

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