National Energy Services Reunited (NASDAQ:NESR) Trading Up 6.7% - Here's Why

Key Points

• Shares of National Energy Services Reunited (NASDAQ:NESR) rose by 6.7% to a trading price of $11.35, with a notable increase in trading volume.
• Analysts are optimistic about the company's future, with JPMorgan Chase raising its price target to $19.00 and a consensus rating of Moderate Buy.
• The company reported earnings of $0.21 per share for the last quarter, exceeding expectations and indicating strong revenue of $327.37 million.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) were up 6.7% during trading on Monday . The stock traded as high as $11.36 and last traded at $11.35. Approximately 837,157 shares were traded during mid-day trading, an increase of 16% from the average daily volume of 719,570 shares. The stock had previously closed at $10.64.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen upgraded National Energy Services Reunited from a "hold" rating to a "buy" rating in a research note on Monday, August 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of National Energy Services Reunited in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on National Energy Services Reunited from $10.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, October 10th. National Bankshares set a $16.00 price objective on National Energy Services Reunited in a research note on Tuesday, September 9th. Finally, Zacks Research lowered National Energy Services Reunited from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.14.

National Energy Services Reunited Stock Performance

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.74 and a beta of 0.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93. The stock has a 50 day moving average price of $9.61 and a two-hundred day moving average price of $7.41.

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

Institutional Trading of National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in National Energy Services Reunited in the second quarter valued at about $34,000. Ameritas Investment Partners Inc. bought a new position in National Energy Services Reunited during the second quarter worth about $37,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited during the first quarter worth about $48,000. BNP Paribas Financial Markets boosted its holdings in National Energy Services Reunited by 92.6% during the second quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company's stock worth $104,000 after buying an additional 8,337 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in National Energy Services Reunited during the first quarter worth about $81,000. 15.55% of the stock is currently 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.

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