National Energy Services Reunited (NASDAQ:NESR) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

National Energy Services Reunited (NASDAQ:NESR) posted its quarterly earnings results on Monday. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09, FiscalAI reports. The firm had revenue of $520.75 million during the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.

National Energy Services Reunited Stock Performance

Shares of NESR opened at $29.02 on Monday. The firm has a market capitalization of $2.93 billion, a P/E ratio of 44.65, a PEG ratio of 0.34 and a beta of 0.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a one year low of $6.52 and a one year high of $30.31. The business has a fifty day moving average of $26.79 and a 200 day moving average of $24.21.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. UBS Group raised their price target on shares of National Energy Services Reunited from $32.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. BTIG Research reiterated a “buy” rating and issued a $32.00 price target on shares of National Energy Services Reunited in a research note on Friday, July 10th. Finally, Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $29.71.

Insiders Place Their Bets

In other National Energy Services Reunited news, Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $26.80, for a total value of $51,445,119.20. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 5,129,198 shares of company stock valued at $135,731,984 over the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after buying an additional 1,499 shares during the last quarter. State of Wyoming purchased a new stake in National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Legal & General Group Plc purchased a new stake in National Energy Services Reunited during the second quarter valued at approximately $34,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the first quarter worth approximately $48,000. Finally, Cerity Partners LLC bought a new position in National Energy Services Reunited in the fourth quarter worth approximately $164,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

National Energy Services Reunited Corp (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.