National Energy Services Reunited (NASDAQ:NESR) Upgraded by Wall Street Zen to Buy Rating

Key Points

• National Energy Services Reunited (NASDAQ:NESR) has been upgraded by Wall Street Zen from a "hold" to a "buy" rating, reflecting increased investor confidence in the stock.
• The stock currently has an average rating of "Buy" with a consensus target price of $14.20, while Piper Sandler has issued an "overweight" rating and set a target price of $11.00.
• Despite a recent 0.9% drop in stock price to $6.65, National Energy Services Reunited reported $0.14 earnings per share for the last quarter, missing expectations but maintaining a market capitalization of $641.39 million.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Piper Sandler began coverage on shares of National Energy Services Reunited in a report on Monday, July 14th. They issued an "overweight" rating and a $11.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $14.20.

National Energy Services Reunited Stock Down 0.9%

Shares of National Energy Services Reunited stock opened at $6.65 on Friday. The company has a market capitalization of $641.39 million, a P/E ratio of 8.21 and a beta of 0.39. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 0.26. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $9.89. The company has a 50 day moving average of $6.26 and a 200 day moving average of $7.05.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $303.10 million for the quarter, compared to analysts' expectations of $304.68 million. National Energy Services Reunited had a return on equity of 10.96% and a net margin of 5.87%. As a group, research analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

A number of institutional investors have recently modified their holdings of NESR. JPMorgan Chase & Co. acquired a new position in shares of National Energy Services Reunited in the 4th quarter valued at $394,000. Arrowstreet Capital Limited Partnership acquired a new position in National Energy Services Reunited in the 4th quarter valued at $107,000. National Bank of Canada FI acquired a new position in National Energy Services Reunited in the 4th quarter valued at $74,000. Russell Investments Group Ltd. acquired a new position in National Energy Services Reunited in the 4th quarter valued at $1,791,000. Finally, Barclays PLC acquired a new position in National Energy Services Reunited in the 4th quarter valued at $430,000. 15.55% of the stock is owned by institutional investors and hedge funds.

About National Energy Services Reunited

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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