National Energy Services Reunited (NASDAQ:NESR) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target on NESR to $34 (from $33) and kept an "overweight" rating, implying roughly a 43% upside from the stock's current price.
• NESR reported a quarterly earnings beat with EPS of $0.32 versus $0.25 expected and revenue of $398.26 million, up 15.9% year-over-year; analysts forecast about 1.53 EPS for the year.
• The stock has a consensus "Moderate Buy" from analysts (seven Buys, two Holds) with a $26 average target, and institutional buying has increased—Dimensional Fund Advisors more than doubled its stake to ~1.96 million shares, while institutional ownership stands at ~15.6%.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) had its price objective increased by stock analysts at Barclays from $33.00 to $34.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 43.46% from the company's current price.

A number of other research firms also recently weighed in on NESR. Zacks Research downgraded shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Maxim Group set a $30.00 target price on National Energy Services Reunited in a research note on Monday, January 12th. National Bank Financial set a $21.00 price target on shares of National Energy Services Reunited in a report on Friday, January 9th. UBS Group lifted their target price on shares of National Energy Services Reunited to $31.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Finally, BTIG Research raised their price objective on National Energy Services Reunited from $16.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

National Energy Services Reunited Price Performance

National Energy Services Reunited stock traded up $0.35 during midday trading on Friday, reaching $23.70. 235,363 shares of the company were exchanged, compared to its average volume of 1,857,756. The firm's 50-day simple moving average is $22.70 and its 200-day simple moving average is $18.65. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year 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 company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 0.38 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.07. National Energy Services Reunited had a return on equity of 8.50% and a net margin of 3.86%.The business had revenue of $398.26 million during the quarter. The company's revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts anticipate that National Energy Services Reunited will post 1.53 EPS for the current year.

Institutional Trading of National Energy Services Reunited

Several hedge funds have recently made changes to their positions in NESR. Dimensional Fund Advisors LP boosted its holdings in National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock worth $42,088,000 after buying an additional 997,300 shares during the period. Bank of New York Mellon Corp grew its stake in shares of National Energy Services Reunited by 16.2% in the 1st quarter. Bank of New York Mellon Corp now owns 159,622 shares of the company's stock worth $3,427,000 after buying an additional 22,234 shares during the last quarter. Calamos Advisors LLC bought a new position in shares of National Energy Services Reunited during the first quarter valued at $1,671,000. Principal Financial Group Inc. increased its stake in National Energy Services Reunited by 17.5% during the 1st quarter. Principal Financial Group Inc. now owns 100,301 shares of the company's stock valued at $2,153,000 after purchasing an additional 14,968 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in National Energy Services Reunited by 47.4% in the first quarter. Hsbc Holdings PLC now owns 71,033 shares of the company's stock worth $1,530,000 after buying an additional 22,835 shares during the last quarter. 15.55% of the stock is currently owned by institutional investors.

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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