Home Energy services National Energy Services Reunited (NASDAQ:NESR) upgraded by Zacks Investment Research to “Hold”

National Energy Services Reunited (NASDAQ:NESR) upgraded by Zacks Investment Research to “Hold”

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National Energy Services Combined (NASDAQ:NESR – Get a rating) has been updated by Zacks Investment Research from a “sell” to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Founded in 2017, NESR is one of the largest national oilfield service providers in the MENA and Asia-Pacific regions. With over 3,200 employees, representing more than 40 nationalities in more than 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 access reservoirs smarter and faster by providing drilling and appraisal services such as down-the-hole drilling tools, fishing tools for directional drilling, testing services, cable services, line services slicks, fluids and platforms.”

Other analysts have also released reports on the company. National Bank of Canada reiterated an “industry performance” rating and set a price target of $11.00 (vs. $13.50) for National Energy Services Reunited shares in a report released Monday, April 25 . National Bankshares downgraded National Energy Services Reunited from an “outperforming” rating to an “sector outperforming” rating and lowered its price target for the stock from $13.50 to $10.00 in a report from the Monday, April 25. Finally, National Bank Financial downgraded National Energy Services Reunited from an “outperforming” rating to an “sector performance” rating and lowered its target price for the stock from $13.50 to $11.00 in a research report from Sunday, April 24. According to MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Hold” and an average price target of $10.67.

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Shares of National Energy Services Reunited opened at $8.64 on Thursday. The company’s 50-day simple moving average is $7.50 and its 200-day simple moving average is $8.90. National Energy Services Reunited has a 12-month low of $6.15 and a 12-month high of $15.95.

Hedge funds and other institutional investors have recently changed their positions in the company. Quantbot Technologies LP increased its position in National Energy Services Reunited shares by 48.0% in the first quarter. Quantbot Technologies LP now owns 5,772 shares of the company valued at $48,000 after purchasing an additional 1,872 shares in the last quarter. First Eagle Investment Management LLC bought a new stock position in National Energy Services Reunited in the fourth quarter worth $50,000. Virtu Financial LLC bought a new stock position in National Energy Services Reunited in the first quarter worth $87,000. Susquehanna International Group LLP bought a new stock position in National Energy Services Reunited in the fourth quarter worth $105,000. Finally, Ethic Inc. bought a new stock position in National Energy Services Reunited in the first quarter worth $117,000. Institutional investors hold 42.11% of the company’s shares.

National Energy Services Company Profile United (Get a rating)

National Energy Services Reunited Corp. provides petroleum services to oil and gas companies in the Middle East, North Africa and Asia-Pacific regions. It operates through two segments, Production Services; and Drilling and Appraisal Services. The Production Services segment offers hydraulic fracturing services; coiled tubing services including nitrogen lifting, fishing, grinding, cleaning, scale removal and other well applications; stimulation and pumping services; primary and curative cementing services; nitrogen services; filtration services, as well as fracturing tanks and pumping units; and pipeline services, such as water filling and hydraulic testing, nitrogen purging, degassing and pressure testing, and cutting/welding and cooling of piping systems/vessels.

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