National Energy Services Reunited (NASDAQ:NESR) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts are broadly bullish on NESR: All 10 covering brokerages rate the stock Buy or Strong Buy, with an average 12-month price target of $33.57. Several firms recently raised their targets, including UBS to $45 and BTIG Research to $40.
• Quarterly results exceeded expectations: NESR reported earnings of $0.44 per share versus the $0.35 consensus estimate, while revenue reached $520.75 million, up 59.1% year over year and above the $448.54 million forecast.
• Shares have risen sharply, but insiders have been selling: The stock opened at $35.29, near its 12-month high of $36.94, after trading as low as $7.13. Insiders sold about 4.03 million shares worth $106.8 million over the past 90 days, while institutional investors own 15.55% of the company.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) have been given an average rating of "Buy" by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.5714.

NESR has been the subject of several analyst reports. Weiss Ratings upgraded National Energy Services Reunited from a "hold (c+)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Zacks Research raised National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Piper Sandler upped their target price on National Energy Services Reunited from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. BTIG Research increased their target price on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, UBS Group raised their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th.

National Energy Services Reunited Stock Performance

Shares of NASDAQ NESR opened at $35.29 on Wednesday. The company has a market cap of $3.56 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 0.34 and a beta of 0.33. National Energy Services Reunited has a 12 month low of $7.13 and a 12 month high of $36.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. The company has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $25.00.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. The business's revenue was up 59.1% compared to the same quarter last year. On average, equities analysts anticipate that National Energy Services Reunited will post 1.82 earnings per share for the current year.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the 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 transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. This represents a 89.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 4,026,658 shares of company stock worth $106,753,421. Corporate insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of National Energy Services Reunited by 4.7% in the 4th 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 increased its position in National Energy Services Reunited by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company's stock worth $175,000 after purchasing an additional 719 shares in the last quarter. Ieq Capital LLC increased its position in National Energy Services Reunited by 1.0% during the 4th quarter. Ieq Capital LLC now owns 85,337 shares of the company's stock worth $1,336,000 after purchasing an additional 842 shares in the last quarter. CWM LLC raised its holdings in National Energy Services Reunited by 2.9% in the fourth quarter. CWM LLC now owns 30,123 shares of the company's stock valued at $472,000 after buying an additional 845 shares during the period. Finally, USA Financial Formulas raised its holdings in National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company's stock valued at $48,000 after buying an additional 871 shares during the period. Institutional investors and hedge funds own 15.55% of the company's stock.

About National Energy Services Reunited

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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