National Energy Services Reunited (NASDAQ:NESR) Reaches New 12-Month High – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high on Tuesday . The stock traded as high as $10.80 and last traded at $10.70, with a volume of 173486 shares trading hands. The stock had previously closed at $10.27.

Analyst Ratings Changes

NESR has been the subject of several research analyst reports. Maxim Group initiated coverage on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. They set a “buy” rating and a $16.00 target price for the company. Piper Sandler raised their target price on shares of National Energy Services Reunited from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of National Energy Services Reunited from a “hold” rating to a “buy” rating in a research note on Monday, August 25th. Finally, National Bankshares set a $16.00 price objective on shares of National Energy Services Reunited in a research note on Tuesday, September 9th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.00.

National Energy Services Reunited Stock Up 2.4%

The company’s fifty day moving average price is $8.03 and its 200-day moving average price is $7.02. The stock has a market cap of $1.01 billion, a P/E ratio of 13.67 and a beta of 0.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 1.11.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. National Energy Services Reunited had a net margin of 5.57% and a return on equity of 9.91%. The business had revenue of $327.37 million during the quarter, compared to analyst estimates of $316.07 million. Equities analysts forecast that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Trading of National Energy Services Reunited

Several large investors have recently bought and sold shares of the stock. Encompass Capital Advisors LLC grew its position 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 worth $55,419,000 after purchasing an additional 382,640 shares during the last quarter. Dodge & Cox grew its position in National Energy Services Reunited by 201.6% during the 2nd quarter. Dodge & Cox now owns 2,136,794 shares of the company’s stock worth $12,864,000 after purchasing an additional 1,428,200 shares during the last quarter. Geode Capital Management LLC grew its position in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after purchasing an additional 780,180 shares during the last quarter. HITE Hedge Asset Management LLC grew its position in National Energy Services Reunited by 7.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 782,239 shares of the company’s stock worth $5,757,000 after purchasing an additional 55,004 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $4,562,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

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.