National Energy Services Reunited (NASDAQ:NESR) Price Target Lowered to $33.00 at Barclays

Key Points

• Barclays cut its price target for National Energy Services Reunited to $33 (from $34) but kept an "overweight" rating, a target that implies roughly a 37.2% upside from the prior close.
• Analyst sentiment remains largely positive with one Strong Buy, seven Buy and one Hold, giving a consensus rating of Buy and a consensus target price of $25.86.
• Key recent financials: shares opened at $24.05 with a market cap of $2.42B, the company beat quarterly EPS estimates ($0.32 vs. $0.25) on revenue of $398.3M (up 15.9% year-over-year).

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) had its price objective lowered by Barclays from $34.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 37.21% from the company's previous close.

NESR has been the subject of several other reports. National Bank Financial set a $21.00 target price on shares of National Energy Services Reunited in a report on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Bank of America began coverage on shares of National Energy Services Reunited in a report on Friday, January 9th. They set a "buy" rating for the company. UBS Group boosted their price target on shares of National Energy Services Reunited to $31.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Finally, BTIG Research boosted their price target on shares of National Energy Services Reunited from $16.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $25.86.

National Energy Services Reunited Stock Performance

Shares of NASDAQ NESR opened at $24.05 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. National Energy Services Reunited has a 12 month low of $5.20 and a 12 month high of $26.85. The company has a 50 day simple moving average of $21.94 and a two-hundred day simple moving average of $16.79. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 0.62 and a beta of 0.29.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.07. The firm had revenue of $398.26 million during the quarter. National Energy Services Reunited had a net margin of 3.86% and a return on equity of 8.50%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts predict that National Energy Services Reunited will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

A number of large investors have recently modified their holdings of NESR. Millennium Management LLC grew its holdings in shares of National Energy Services Reunited by 38.2% during the first quarter. Millennium Management LLC now owns 542,135 shares of the company's stock worth $3,990,000 after buying an additional 149,796 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of National Energy Services Reunited during the first quarter worth $1,425,000. Acadian Asset Management LLC purchased a new stake in shares of National Energy Services Reunited during the first quarter worth $48,000. Geode Capital Management LLC grew its holdings in shares of National Energy Services Reunited by 2,227.2% during the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company's stock worth $4,908,000 after buying an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of National Energy Services Reunited during the second quarter worth $34,000. Hedge funds and other institutional investors own 15.55% of the company's stock.

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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