National Energy Services Reunited (NASDAQ:NESR) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of National Energy Services Reunited (NASDAQ:NESR) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services. “

Separately, Evercore ISI reaffirmed a buy rating and issued a $17.00 price objective on shares of National Energy Services Reunited in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $14.38.



NASDAQ:NESR opened at $7.87 on Friday. National Energy Services Reunited has a 1-year low of $7.33 and a 1-year high of $14.38. The company has a 50-day moving average of $8.14 and a 200 day moving average of $9.03. The company has a quick ratio of 1.11, a current ratio of 2.36 and a debt-to-equity ratio of 0.42.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. National Energy Services Reunited had a net margin of 10.70% and a return on equity of 13.27%. The company had revenue of $159.90 million during the quarter, compared to analyst estimates of $157.87 million. As a group, analysts expect that National Energy Services Reunited will post 0.94 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in NESR. BlackRock Inc. bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $60,000. Geode Capital Management LLC bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $136,000. FMR LLC raised its position in shares of National Energy Services Reunited by 22.0% during the fourth quarter. FMR LLC now owns 1,112,839 shares of the company’s stock valued at $9,637,000 after buying an additional 200,922 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $34,000. Finally, Crown Advisors Management Inc. bought a new stake in shares of National Energy Services Reunited during the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 18.19% of the company’s stock.

About National Energy Services Reunited

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 Production Services, and Drilling and Evaluation Services segments. The Production Services segment offers coiled tubing services, such as nitrogen lifting, fishing, milling, clean-out, scale removal, and other well applications; primary and remedial cementing services; stimulation and pumping services; nitrogen services; and filtration services, as well as frac tanks and pumping units.

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