National Energy Services Reunited (NASDAQ:NESR) Cut to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of National Energy Services Reunited (NASDAQ:NESR – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the company. BTIG Research boosted their price objective on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 10th. Citigroup reaffirmed a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. Piper Sandler cut their price target on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday. National Bank Financial set a $44.00 price target on shares of National Energy Services Reunited in a research report on Wednesday, September 30th. Finally, Capital One Financial assumed coverage on shares of National Energy Services Reunited in a research note on Wednesday, September 30th. They issued an “overweight” rating and a $44.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.44.

Check Out Our Latest Stock Analysis on National Energy Services Reunited

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $24.08 on Friday. National Energy Services Reunited has a fifty-two week low of $9.95 and a fifty-two week high of $36.94. 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 company has a 50 day moving average price of $31.80 and a 200 day moving average price of $27.43. The stock has a market capitalization of $2.43 billion, a P/E ratio of 26.17, a PEG ratio of 0.24 and a beta of 0.48.

National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. The company’s revenue was up 59.1% on a year-over-year basis. Equities research analysts forecast that National Energy Services Reunited will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the transaction, the director owned 696,398 shares in the company, valued at approximately $24,687,309.10. This represents a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sherif Foda sold 100,000 shares of the 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 transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 176,894 shares of company stock valued at $6,221,414. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arlington Capital Management Inc. acquired a new position in National Energy Services Reunited in the second quarter valued at $424,000. Integrated Wealth Concepts LLC acquired a new stake in shares of National Energy Services Reunited during the second quarter worth about $45,000. Squarepoint Ops LLC lifted its holdings in shares of National Energy Services Reunited by 39.2% in the 2nd quarter. Squarepoint Ops LLC now owns 476,608 shares of the company’s stock valued at $14,265,000 after purchasing an additional 134,316 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares during the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of National Energy Services Reunited in the 2nd quarter valued at about $520,000. 15.55% of the stock is owned by hedge funds and other institutional investors.

About National Energy Services Reunited

(Get Free Report)

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.

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