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Brokerages Set National Energy Services Reunited (NASDAQ:NESR) PT at $15.00

National Energy Services Reunited logo with Energy background

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have been assigned a consensus rating of "Buy" from the five brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.20.

Several analysts have commented on NESR shares. Piper Sandler started coverage on shares of National Energy Services Reunited in a research report on Monday. They set an "overweight" rating and a $11.00 price target for the company. Wall Street Zen lowered shares of National Energy Services Reunited from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th.

Check Out Our Latest Research Report on NESR

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT raised its position in National Energy Services Reunited by 78.1% during the 1st quarter. Iridian Asset Management LLC CT now owns 273,944 shares of the company's stock worth $2,016,000 after buying an additional 120,108 shares during the last quarter. Millennium Management LLC purchased a new position in National Energy Services Reunited during the 4th quarter worth approximately $3,515,000. Bank of America Corp DE purchased a new position in National Energy Services Reunited during the 4th quarter worth approximately $1,208,000. Ameriprise Financial Inc. purchased a new position in National Energy Services Reunited during the 4th quarter worth approximately $1,162,000. Finally, SCF Partners Inc. purchased a new position in National Energy Services Reunited during the 4th quarter worth approximately $71,605,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Down 2.2%

Shares of NESR stock traded down $0.14 during mid-day trading on Tuesday, hitting $6.02. 468,060 shares of the stock traded hands, compared to its average volume of 284,619. The stock has a market cap of $580.15 million, a P/E ratio of 7.43 and a beta of 0.36. The stock's fifty day moving average is $6.19 and its two-hundred day moving average is $7.31. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $9.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.10 and a quick ratio of 0.90.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $303.10 million for the quarter, compared to analysts' expectations of $304.68 million. National Energy Services Reunited had a net margin of 5.87% and a return on equity of 10.96%. Equities analysts predict that National Energy Services Reunited will post 1.03 EPS for the current year.

About National Energy Services Reunited

(Get Free Report

National Energy Services Reunited Corp. provides oilfield services in the Middle East and North Africa region. The company's Production Services segment offers hydraulic fracturing services; coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; stimulation and pumping services; primary and remedial cementing services; nitrogen services; filtration services, as well as frac tanks and pumping units; and pipeline and industrial services, such as water filling and hydro testing, nitrogen purging, and de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems.

Further Reading

Analyst Recommendations for National Energy Services Reunited (NASDAQ:NESR)

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