National Energy Services Reunited (NASDAQ:NESR) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reiterated its buy rating on National Energy Services Reunited (NASDAQ:NESR) and kept a $32 price target, implying about 14.8% upside from the current share price.
• Other analysts have also turned more bullish on the stock, with several firms raising targets or upgrading ratings. Overall, NESR now carries a consensus Buy rating and a consensus price target of $29.43.
• The company’s recent results were strong, with Q1 EPS of $0.26 beating estimates and revenue of $404.6 million topping forecasts, up 33.5% year over year.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report)'s stock had its "buy" rating reissued by research analysts at BTIG Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $32.00 price target on the stock. BTIG Research's price objective suggests a potential upside of 14.78% from the company's current price.

A number of other brokerages have also weighed in on NESR. Zacks Research raised shares of National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 29th. UBS Group boosted their price objective on National Energy Services Reunited from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Barclays raised their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Finally, Piper Sandler boosted their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, National Energy Services Reunited currently has a consensus rating of "Buy" and a consensus price target of $29.43.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $27.88 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. The stock has a market capitalization of $2.81 billion, a PE ratio of 42.89, a P/E/G ratio of 0.35 and a beta of 0.31. National Energy Services Reunited has a fifty-two week low of $5.91 and a fifty-two week high of $30.31. The company has a fifty day moving average of $25.72 and a two-hundred day moving average of $22.54.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The business's revenue for the quarter was up 33.5% on a year-over-year basis. As a group, research analysts forecast that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the sale, the director owned 229,198 shares of the company's stock, valued at approximately $6,142,506.40. This represents a 89.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 5,129,198 shares of company stock worth $135,731,984 in the last quarter. Insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV grew its position in shares of National Energy Services Reunited by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company's stock valued at $174,000 after purchasing an additional 501 shares in the last quarter. ProShare Advisors LLC lifted its position in National Energy Services Reunited by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company's stock worth $175,000 after buying an additional 719 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in National Energy Services Reunited by 4.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,419 shares of the company's stock worth $306,000 after buying an additional 772 shares in the last quarter. Ieq Capital LLC boosted its stake in National Energy Services Reunited by 1.0% during the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company's stock worth $1,336,000 after buying an additional 842 shares during the last quarter. Finally, CWM LLC boosted its stake in National Energy Services Reunited by 2.9% during the fourth quarter. CWM LLC now owns 30,123 shares of the company's stock worth $472,000 after buying an additional 845 shares during the last quarter. 15.55% of the stock is currently owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp NASDAQ: NESR is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company's mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR's service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.

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