National Energy Services Reunited (NASDAQ:NESR) Price Target Raised to $16.00

National Energy Services Reunited (NASDAQ:NESR) had its price target raised by BTIG Research from $12.00 to $16.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler raised their price objective on National Energy Services Reunited from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. National Bankshares set a $16.00 price target on National Energy Services Reunited in a research report on Tuesday, September 9th. Maxim Group assumed coverage on National Energy Services Reunited in a research note on Tuesday, September 9th. They issued a “buy” rating and a $16.00 price target on the stock. Wall Street Zen lowered shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of National Energy Services Reunited from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.29.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $13.75 on Thursday. 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 firm’s 50 day moving average is $11.25 and its 200-day moving average is $8.30. National Energy Services Reunited has a 12-month low of $5.20 and a 12-month high of $14.50. The stock has a market capitalization of $1.33 billion, a P/E ratio of 18.84 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Thursday, November 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $295.32 million during the quarter, compared to analyst estimates of $292.46 million. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.32%. Equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

Institutional investors have recently made changes to their positions in the stock. Penn Capital Management Company LLC grew its stake in National Energy Services Reunited by 111.9% in the first quarter. Penn Capital Management Company LLC now owns 87,630 shares of the company’s stock valued at $645,000 after purchasing an additional 46,276 shares in the last quarter. Interval Partners LP acquired a new stake in shares of National Energy Services Reunited during the 1st quarter valued at about $585,000. Boston Partners acquired a new stake in shares of National Energy Services Reunited during the 1st quarter valued at about $361,000. Kazazian Asset Management LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at approximately $422,000. Finally, Tejara Capital Ltd increased its holdings in National Energy Services Reunited by 9.5% in the first quarter. Tejara Capital Ltd now owns 439,917 shares of the company’s stock worth $3,238,000 after buying an additional 38,152 shares during the last quarter. 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.