National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $32.00

Key Points

• BTIG Research raised its price target on National Energy Services Reunited from $28 to $32 and kept a buy rating, implying about 23.65% upside from the prior close.
• Other analysts remain broadly positive: several firms recently lifted targets, and the stock now carries an overall Moderate Buy consensus with an average price target of $26.57.
• The company reported strong quarterly results, posting $0.26 EPS versus the $0.21 estimate and $404.59 million in revenue, up 33.5% year over year.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) had its price objective raised by investment analysts at BTIG Research from $28.00 to $32.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 23.65% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Maxim Group set a $30.00 target price on National Energy Services Reunited in a research report on Monday, January 12th. Barclays upped their price objective on shares of National Energy Services Reunited from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday. UBS Group increased their price target on National Energy Services Reunited to $31.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Zacks Research cut National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of National Energy Services Reunited in a report on Friday, March 27th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, National Energy Services Reunited presently has an average rating of "Moderate Buy" and an average price target of $26.57.

National Energy Services Reunited Stock Performance

National Energy Services Reunited stock traded up $2.78 during mid-day trading on Monday, reaching $25.88. 1,278,225 shares of the company were exchanged, compared to its average volume of 1,870,450. The firm's 50-day simple moving average is $22.70 and its two-hundred day simple moving average is $18.65. National Energy Services Reunited has a twelve month low of $5.47 and a twelve month high of $26.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.04. The firm has a market cap of $2.61 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 0.35 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited's revenue for the quarter was up 33.5% compared to the same quarter last year. Equities analysts predict that National Energy Services Reunited will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors have recently bought and sold shares of NESR. Dimensional Fund Advisors LP increased its stake in National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock valued at $42,088,000 after buying an additional 997,300 shares during the period. Bank of New York Mellon Corp increased its stake in shares of National Energy Services Reunited by 16.2% during the first quarter. Bank of New York Mellon Corp now owns 159,622 shares of the company's stock valued at $3,427,000 after acquiring an additional 22,234 shares during the period. Calamos Advisors LLC acquired a new stake in National Energy Services Reunited in the first quarter worth approximately $1,671,000. Principal Financial Group Inc. lifted its position in National Energy Services Reunited by 17.5% in the first quarter. Principal Financial Group Inc. now owns 100,301 shares of the company's stock worth $2,153,000 after purchasing an additional 14,968 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of National Energy Services Reunited by 47.4% during the 1st quarter. Hsbc Holdings PLC now owns 71,033 shares of the company's stock valued at $1,530,000 after purchasing an additional 22,835 shares during the period. Institutional investors and hedge funds 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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