National Energy Services Reunited (NASDAQ:NESR) Stock Has Average Target Price of $38.44 According to Analysts

Shares of National Energy Services Reunited (NASDAQ:NESR) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.88.

A number of equities analysts have recently commented on NESR shares. Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. BMO Capital Markets initiated coverage on shares of National Energy Services Reunited in a research note on Thursday, October 1st. They set an “outperform” rating and a $39.00 price target for the company. Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. National Bank Financial set a $44.00 target price on National Energy Services Reunited in a report on Wednesday, September 30th. Finally, Barclays boosted their price target on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at National Energy Services Reunited

In other National Energy Services Reunited news, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer owned 3,084,643 shares in the company, valued at $107,962,505. This represents a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 176,894 shares of company stock valued at $6,221,414. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of National Energy Services Reunited

Several large investors have recently added to or reduced their stakes in NESR. Dimensional Fund Advisors LP raised its stake in shares of National Energy Services Reunited by 103.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after acquiring an additional 997,300 shares during the last quarter. Walleye Capital LLC acquired a new stake in National Energy Services Reunited during the 1st quarter valued at $19,045,000. Arrowstreet Capital Limited Partnership raised its position in National Energy Services Reunited by 75.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock valued at $18,176,000 after purchasing an additional 365,217 shares during the last quarter. HITE Hedge Asset Management LLC boosted its stake in National Energy Services Reunited by 43.7% in the fourth quarter. HITE Hedge Asset Management LLC now owns 919,381 shares of the company’s stock worth $14,398,000 after purchasing an additional 279,543 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new position in National Energy Services Reunited in the second quarter worth $5,724,000. 15.55% of the stock is owned by institutional investors.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $20.90 on Thursday. The firm has a market capitalization of $2.11 billion, a PE ratio of 22.72, a PEG ratio of 0.27 and a beta of 0.48. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 1-year low of $10.01 and a 1-year high of $36.94. The business’s 50 day moving average is $31.48 and its 200-day moving average is $27.49.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%. The firm’s revenue was up 59.1% compared to the same quarter last year. Sell-side analysts predict that National Energy Services Reunited will post 1.65 earnings per share for the current year.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NASDAQ: NESR) is an oilfield services company focused on the Middle East, North Africa and Asia. The company provides services and equipment used across the life cycle of oil and natural gas wells, supporting exploration, drilling, completion, production and well intervention activities.

Its service portfolio has included well stimulation and completion services, coiled tubing, wireline and well testing, directional drilling, artificial lift, pressure pumping and production enhancement.