Wall Street Zen Upgrades National Energy Services Reunited (NASDAQ:NESR) to Buy

Key Points

• Wall Street Zen has upgraded National Energy Services Reunited (NASDAQ:NESR) from a "hold" rating to a "buy" rating, indicating a positive outlook for the stock.
• Piper Sandler has raised its price target for NESR from $11.00 to $13.00, with analysts giving the stock an average target of $14.60.
• The company recently reported an earnings per share (EPS) of $0.21, exceeding analyst expectations of $0.19 and generating revenue of $327.37 million for the quarter.

Wall Street Zen upgraded shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) from a hold rating to a buy rating in a research note published on Monday morning.

Separately, Piper Sandler upped their target price on National Energy Services Reunited from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $14.60.

National Energy Services Reunited Stock Performance

NESR stock traded up $0.04 on Monday, reaching $9.07. The company's stock had a trading volume of 619,960 shares, compared to its average volume of 485,444. National Energy Services Reunited has a 52 week low of $5.20 and a 52 week high of $9.89. The company has a market capitalization of $874.83 million, a P/E ratio of 11.78 and a beta of 0.39. The firm has a fifty day moving average of $6.71 and a two-hundred day moving average of $6.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.11 and a quick ratio of 0.93.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 business had revenue of $327.37 million during the quarter, compared to analyst estimates of $316.07 million. As a group, analysts predict that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Several large investors have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC raised its stake in National Energy Services Reunited by 4.3% during the 2nd quarter. Encompass Capital Advisors LLC now owns 9,205,887 shares of the company's stock valued at $55,419,000 after purchasing an additional 382,640 shares during the period. BNP Paribas Financial Markets raised its stake in National Energy Services Reunited by 92.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company's stock valued at $104,000 after purchasing an additional 8,337 shares during the period. Boothbay Fund Management LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at $138,000. Bridgeway Capital Management LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at $2,446,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in National Energy Services Reunited during the 2nd quarter valued at $201,000. 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.