National Energy Services Reunited (NASDAQ:NESR) Reaches New 1-Year High – Time to Buy?

Shares of National Energy Services Reunited (NASDAQ:NESR) hit a new 52-week high during trading on Monday . The stock traded as high as $36.84 and last traded at $36.6750, with a volume of 15909 shares changing hands. The stock had previously closed at $36.31.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Piper Sandler upped their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a research report on Wednesday. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.57.

National Energy Services Reunited Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The stock has a market cap of $3.67 billion, a P/E ratio of 39.57, a price-to-earnings-growth ratio of 0.34 and a beta of 0.33. The company’s 50 day moving average price is $27.90 and its 200-day moving average price is $24.77.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The company had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. The firm’s revenue was up 59.1% compared to the same quarter last year. Equities analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current fiscal year.

Insider Activity

In related news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the sale, the director directly owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. This trade represents a 89.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 4,603,702 shares of company stock valued at $121,837,316 over the last three months. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors have recently added to or reduced their stakes in NESR. Hsbc Holdings PLC bought a new position in shares of National Energy Services Reunited in the fourth quarter worth approximately $747,000. Oxbow Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 4th quarter worth approximately $4,102,000. HITE Hedge Asset Management LLC boosted its stake in shares of National Energy Services Reunited by 43.7% in the 4th quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock valued at $14,398,000 after purchasing an additional 279,543 shares in the last quarter. Sei Investments Co. grew its stake in shares of National Energy Services Reunited by 50.9% during the first quarter. Sei Investments Co. now owns 124,472 shares of the company’s stock valued at $2,672,000 after buying an additional 42,006 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at about $1,671,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.