Analysts Set National Energy Services Reunited (NASDAQ:NESR) Target Price at $14.20

National Energy Services Reunited (NASDAQ:NESR) has been given an average rating of “Buy” by the five ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.20.

NESR has been the topic of several research analyst reports. Piper Sandler initiated coverage on National Energy Services Reunited in a research note on Monday, July 14th. They issued an “overweight” rating and a $11.00 price objective on the stock. Wall Street Zen raised National Energy Services Reunited from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently made changes to their positions in the company. Jump Financial LLC boosted its stake in shares of National Energy Services Reunited by 188.3% during the second quarter. Jump Financial LLC now owns 52,225 shares of the company’s stock valued at $314,000 after purchasing an additional 34,112 shares in the last quarter. Dodge & Cox boosted its stake in shares of National Energy Services Reunited by 201.6% during the second quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock valued at $12,864,000 after purchasing an additional 1,428,200 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of National Energy Services Reunited during the second quarter valued at about $308,000. PharVision Advisers LLC acquired a new stake in shares of National Energy Services Reunited during the second quarter valued at about $192,000. Finally, Quantbot Technologies LP acquired a new stake in shares of National Energy Services Reunited during the second quarter valued at about $196,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Stock Performance

NESR opened at $7.10 on Friday. The firm has a market cap of $684.80 million, a P/E ratio of 8.77 and a beta of 0.39. National Energy Services Reunited has a 52-week low of $5.20 and a 52-week high of $9.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.90 and a current ratio of 1.10. The business’s fifty day moving average is $6.31 and its 200-day moving average is $7.00.

National Energy Services Reunited (NASDAQ:NESR) last released 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 business had revenue of $303.10 million during the quarter, compared to analyst estimates of $304.68 million. National Energy Services Reunited had a net margin of 5.87% and a return on equity of 10.96%. Sell-side analysts expect that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

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.