National Energy Services Reunited (NASDAQ:NESR) Stock Price Expected to Rise, Barclays Analyst Says

National Energy Services Reunited (NASDAQ:NESR) had its price objective raised by stock analysts at Barclays from $16.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 123.68% from the company’s current price.

NESR has been the subject of several other research reports. JPMorgan Chase & Co. initiated coverage on shares of National Energy Services Reunited in a research report on Friday, December 6th. They issued an “overweight” rating and a $13.00 price target for the company. Benchmark assumed coverage on shares of National Energy Services Reunited in a research note on Tuesday, January 21st. They set a “buy” rating and a $15.00 price target on the stock.

National Energy Services Reunited Stock Performance

Shares of NASDAQ NESR opened at $7.60 on Thursday. The company has a 50 day simple moving average of $8.85 and a 200-day simple moving average of $8.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.10. National Energy Services Reunited has a 1 year low of $7.29 and a 1 year high of $10.30.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings data on Wednesday, March 12th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $343.68 million for the quarter, compared to analysts’ expectations of $339.84 million. On average, analysts anticipate that National Energy Services Reunited will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NESR. HITE Hedge Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the third quarter worth about $6,645,000. R Squared Ltd purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $41,000. Iridian Asset Management LLC CT purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $1,378,000. Tejara Capital Ltd purchased a new stake in shares of National Energy Services Reunited in the fourth quarter valued at about $3,600,000. Finally, Sei Investments Co. purchased a new position in shares of National Energy Services Reunited during the fourth quarter valued at approximately $328,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

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.