National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year High - Should You Buy?

Key Points

• National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high of $9.99 before closing at $9.80, with recent trading volume at 182,674 shares.
• Several research firms have upgraded their ratings on NESR, with Piper Sandler setting a new price target of $13.00 and Maxim Group initiating coverage with a buy rating and a price target of $16.00.
• The company reported a 0.21 EPS for the last quarter, exceeding analysts' expectations, and posted a revenue of $327.37 million, indicating strong performance in the oilfield services sector.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.99 and last traded at $9.80, with a volume of 182674 shares changing hands. The stock had previously closed at $9.59.

Analysts Set New Price Targets

Several analysts have issued reports on NESR shares. Wall Street Zen raised shares of National Energy Services Reunited from a "hold" rating to a "buy" rating in a research report on Monday, August 25th. Maxim Group started coverage on shares of National Energy Services Reunited in a report on Tuesday, September 9th. They issued a "buy" rating and a $16.00 target price on the stock. Piper Sandler upped their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, National Bankshares set a $16.00 target price on shares of National Energy Services Reunited in a report on Tuesday, September 9th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.00.

National Energy Services Reunited Stock Down 0.9%

The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $988.61 million, a P/E ratio of 13.31 and a beta of 0.37. The firm has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $6.93.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its earnings results on Wednesday, August 20th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $327.37 million during the quarter, compared to the consensus estimate of $316.07 million. National Energy Services Reunited had a return on equity of 9.91% and a net margin of 5.57%. Equities research analysts expect that National Energy Services Reunited will post 1.03 earnings per share for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several large investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC grew its holdings in shares of National Energy Services Reunited by 4.3% during the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company's stock worth $55,419,000 after purchasing an additional 382,640 shares in the last quarter. Dodge & Cox grew its position in National Energy Services Reunited by 201.6% in the second quarter. Dodge & Cox now owns 2,136,794 shares of the company's stock valued at $12,864,000 after acquiring an additional 1,428,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock worth $4,908,000 after acquiring an additional 780,180 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of National Energy Services Reunited by 7.6% in the first quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company's stock worth $5,757,000 after acquiring an additional 55,004 shares during the last quarter. Finally, CenterBook Partners LP bought a new position in shares of National Energy Services Reunited in the second quarter worth about $4,562,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

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.