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 set a $17.00 price target on shares of National Energy Services Reunited in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $14.38.
National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $159.90 million for the quarter, compared to the consensus estimate of $157.87 million. National Energy Services Reunited had a net margin of 10.70% and a return on equity of 13.27%. As a group, equities research analysts forecast that National Energy Services Reunited will post 0.94 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $30,000. Deutsche Bank AG bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $34,000. Strs Ohio bought a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $54,000. BlackRock Inc. bought a new stake in shares of National Energy Services Reunited during the fourth quarter valued at approximately $60,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of National Energy Services Reunited during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors 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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