National Energy Services Reunited (NASDAQ:NESR) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on NESR, with 10 buy ratings and one hold; the average 12-month price target is $38.44.
• NESR exceeded quarterly expectations, reporting $0.44 EPS versus a $0.35 estimate and $520.75 million in revenue, up 59.1% year over year.
• The stock opened at $23.63, down 3.6%, while insiders sold 176,894 shares worth approximately $6.2 million over the past 90 days.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $38.44.

Several analysts have recently weighed in on NESR shares. Citigroup restated a "buy" rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Barclays raised their price objective on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Piper Sandler cut their target price on shares of National Energy Services Reunited from $40.00 to $39.00 and set an "overweight" rating on the stock in a research report on Friday, October 2nd. UBS Group reduced 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, September 29th. Finally, Weiss Ratings cut shares of National Energy Services Reunited from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 29th.

Insider Transactions at National Energy Services Reunited

In related news, CFO Stefan Angeli sold 13,570 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total value of $476,578.40. Following the sale, the chief financial officer owned 549,763 shares of the company's stock, valued at $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mejia Antonio J. Campo sold 63,324 shares of the business's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 176,894 shares of company stock worth $6,221,414. Company insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NESR. Arlington Capital Management Inc. bought a new position in shares of National Energy Services Reunited during the second quarter worth about $424,000. Integrated Wealth Concepts LLC bought a new stake in National Energy Services Reunited in the second quarter valued at approximately $45,000. Squarepoint Ops LLC boosted its holdings in National Energy Services Reunited by 39.2% in the second quarter. Squarepoint Ops LLC now owns 476,608 shares of the company's stock valued at $14,265,000 after acquiring an additional 134,316 shares during the last quarter. Allworth Financial LP boosted its holdings in 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 acquiring an additional 649 shares during the last quarter. Finally, Arizona State Retirement System acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at approximately $520,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Trading Down 3.6%

NASDAQ NESR opened at $23.63 on Thursday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 0.29 and a beta of 0.48. National Energy Services Reunited has a twelve month low of $9.95 and a twelve month high of $36.94. 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 business's fifty day moving average is $31.76 and its 200 day moving average is $27.48.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations 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% on a year-over-year basis. As a group, sell-side analysts expect that National Energy Services Reunited will post 1.65 EPS for the current fiscal year.

National Energy Services Reunited Company Profile

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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