National Energy Services Reunited (NASDAQ:NESR) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• National Energy Services Reunited (NASDAQ:NESR) has a consensus analyst rating of "Buy", with eight buy ratings and one strong-buy rating. The average 1-year price target is about $29.71.
• The company reported better-than-expected quarterly results, posting EPS of $0.26 versus estimates of $0.21 and revenue of $404.6 million, up 33.5% year over year.
• There has been notable insider selling and mixed institutional activity, including a director selling nearly 1.92 million shares and insiders selling 5.13 million shares over the last 90 days.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) has earned an average recommendation of "Buy" from the nine ratings firms that are currently 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 price target among brokers that have issued ratings on the stock in the last year is $29.7143.

NESR has been the subject of several research reports. Piper Sandler upped their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Barclays raised their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. BTIG Research restated a "buy" rating and issued a $32.00 price target on shares of National Energy Services Reunited in a report on Friday, July 10th. Weiss Ratings raised shares of National Energy Services Reunited from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the company's stock in a transaction on Thursday, June 25th. The stock was 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 in the company, valued at $6,142,506.40. This represents a 89.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,129,198 shares of company stock worth $135,731,984 in the last ninety days. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock valued at $30,000 after purchasing an additional 1,499 shares during the last quarter. State of Wyoming purchased a new stake in shares of National Energy Services Reunited during the fourth quarter valued at about $76,000. Clearstead Advisors LLC lifted its position in shares of National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company's stock valued at $77,000 after buying an additional 3,171 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited during the second quarter valued at about $34,000. Finally, Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at about $48,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $27.62 on Friday. The firm's 50 day simple moving average is $26.43 and its 200-day simple moving average is $23.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. National Energy Services Reunited has a one year low of $6.24 and a one year high of $30.31. The firm has a market cap of $2.79 billion, a PE ratio of 42.49, a price-to-earnings-growth ratio of 0.32 and a beta of 0.31.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. The company's revenue was up 33.5% compared to the same quarter last year. As a group, equities analysts predict that National Energy Services Reunited will post 1.74 EPS for the current year.

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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