Barclays Issues Positive Forecast for National Energy Services Reunited (NASDAQ:NESR) Stock Price

National Energy Services Reunited (NASDAQ:NESR) had its target price raised by Barclays from $16.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

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

National Energy Services Reunited Stock Performance

NASDAQ NESR opened at $7.60 on Thursday. National Energy Services Reunited has a 1 year low of $7.29 and a 1 year high of $10.30. The business’s fifty day moving average is $8.84 and its two-hundred day moving average is $8.96. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 0.33.

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

Hedge Funds Weigh In On National Energy Services Reunited

Several institutional investors and hedge funds have recently modified their holdings of NESR. R Squared Ltd purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at $41,000. Tower Research Capital LLC TRC purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at $49,000. National Bank of Canada FI purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at $74,000. TD Waterhouse Canada Inc. purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at $89,000. Finally, Robotti Robert purchased a new position in shares of National Energy Services Reunited during the 4th quarter valued at $90,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.