National Energy Services Reunited (NASDAQ:NESR) Hits New 1-Year High – Still a Buy?

National Energy Services Reunited (NASDAQ:NESR) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.28 and last traded at $15.23, with a volume of 499935 shares traded. The stock had previously closed at $15.09.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NESR. 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 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of National Energy Services Reunited from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. BTIG Research increased their target price on shares of National Energy Services Reunited from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of National Energy Services Reunited in a research note on Monday, December 22nd. Finally, National Bankshares set a $16.00 price target on National Energy Services Reunited in a research report on Tuesday, September 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and an average target price of $16.86.

National Energy Services Reunited Price Performance

The stock’s 50 day simple moving average is $13.83 and its 200-day simple moving average is $10.12. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 20.86 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.92 and a current ratio of 1.10.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. National Energy Services Reunited had a net margin of 5.53% and a return on equity of 8.24%. The business had revenue of $295.32 million during the quarter, compared to the consensus estimate of $292.46 million. Equities research analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NESR. State of Alaska Department of Revenue purchased a new position in shares of National Energy Services Reunited in the third quarter worth about $34,000. Legal & General Group Plc acquired a new position in National Energy Services Reunited in the 2nd quarter worth approximately $34,000. Ameritas Investment Partners Inc. purchased a new position in National Energy Services Reunited during the 2nd quarter worth approximately $37,000. Acadian Asset Management LLC acquired a new stake in National Energy Services Reunited during the 1st quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at $73,000. 15.55% of the stock is owned by institutional investors and hedge funds.

National Energy Services Reunited Company Profile

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.