National Energy Services Reunited (NASDAQ:NESR) Reaches New 1-Year High at $10.67

National Energy Services Reunited Corp. (NASDAQ:NESR) hit a new 52-week high on Tuesday . The company traded as high as $10.67 and last traded at $10.54, with a volume of 9 shares. The stock had previously closed at $10.61.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of National Energy Services Reunited from a “buy” rating to a “hold” rating in a research note on Friday, December 25th. BidaskClub raised shares of National Energy Services Reunited from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of National Energy Services Reunited in a research note on Friday, October 30th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $14.75.

The firm’s 50-day simple moving average is $9.68 and its 200 day simple moving average is $7.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.46. The stock has a market capitalization of $876.23 million, a P/E ratio of 23.93 and a beta of 0.94.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. National Energy Services Reunited had a net margin of 4.63% and a return on equity of 6.46%. The firm had revenue of $218.42 million for the quarter, compared to analysts’ expectations of $205.32 million. As a group, research analysts expect that National Energy Services Reunited Corp. will post 0.59 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of National Energy Services Reunited by 284.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,715 shares of the company’s stock valued at $36,000 after purchasing an additional 4,230 shares during the period. Bank of America Corp DE raised its holdings in shares of National Energy Services Reunited by 17.8% in the 2nd quarter. Bank of America Corp DE now owns 13,406 shares of the company’s stock valued at $92,000 after purchasing an additional 2,022 shares during the period. Yaupon Capital Management LP bought a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at about $132,000. Prudential Financial Inc. raised its holdings in shares of National Energy Services Reunited by 12.5% in the 2nd quarter. Prudential Financial Inc. now owns 21,382 shares of the company’s stock valued at $147,000 after purchasing an additional 2,382 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of National Energy Services Reunited by 72.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 36,986 shares of the company’s stock valued at $254,000 after purchasing an additional 15,581 shares during the period. 26.19% of the stock is currently owned by institutional investors.

About National Energy Services Reunited (NASDAQ:NESR)

National Energy Services Reunited Corp., through its subsidiaries, provides oilfield services to oil and gas companies in the Middle East, North Africa, and the Asia Pacific regions. It operates through two segments: Production Services; and Drilling and Evaluation Services. The Production Services segment offers coiled tubing services, including nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; hydraulic fracturing services; stimulation and pumping services; nitrogen services; pipeline 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; and primary and remedial cementing services.

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