$NESR

Uranium prices hit new highs, with long-term contracts at $96.50/lb and spot at $89.63/lb, according to Cameco. Despite this, uranium equities like Cameco (CCJ) and the VanEck Uranium ETF (NLR) have declined. Policy support for nuclear energy grew, with a U.S.-Korea framework for reactor deployment. Lithium prices also rose, with Chinese battery-grade lithium carbonate averaging 122,350 yuan/tonne.

NESR and Aramco agreed on a $200M project to produce 2,000 tons/year of battery-grade lithium carbonate in Saudi Arabia, starting in late 2027. NESR's LiThara™ platform will be used for direct lithium extraction, combining Aramco's expertise with NESR's technology.

TETRA Technologies (TTI) stock fell 20.9% since reporting Q2 results, trading at $6.17. NESR (NESR) reported 59.1% revenue growth, beating estimates, but its stock dropped 15.5% to $24.52. ProPetro (PUMP) missed expectations, with revenue down 6.2%, and its stock fell 10.1% to $9.59. Oceaneering (OII) beat estimates with 10% revenue growth, stock flat at $44.97. Valaris (VAL) reported 12.4% revenue decline but beat EPS estimates, stock up 6.5% to $82.00.

Select Water Solutions (WTTR), ProPetro (PUMP), Kodiak Gas Services (KGS), and NESR (NESR) stocks fell 3.2% to 3.7% as Treasury yields hit multi-decade highs and energy market tightness prompted global reserve actions. WTTR's volatility is noted, with a recent acquisition of Pilot Water Solutions for $700M. WTTR is up 72.6% YTD but 14% below its 52-week high.

National Energy Services Reunited Corp's (NESR) average price target was reduced by analysts from $42.78 to $42.22, with a range of $35 to $50. This implies a 69% upside from the Oct. 1 closing price. All 9 analysts maintain a 'Buy' rating.

Piper Sandler reduced its price target for National Energy Services Reunited (NASDAQ:NESR) to $39 from $40, citing a slowdown in Saudi Arabia. The stock fell 20% this week, nearing its 52-week low of $85.96. Despite this, the stock is considered undervalued. The company reported strong Q2 2026 results, with revenue of $520.8 million and adjusted earnings of $0.44 per share, exceeding expectations. Other firms like BTIG and BMO Capital have also issued positive ratings and price targets for NESR.

BMO Capital initiated coverage on National Energy Services Reunited (NASDAQ:NESR) with an Outperform rating and a $39 price target, citing growth in Middle East markets and strong execution of its Jafurah contract. The company reported Q2 2026 earnings of $0.44 per share on revenue of $520.8 million, surpassing estimates. BTIG raised its price target to $40, noting regional growth offsetting Iraq challenges.

National Energy Services Reunited Corp. (NESR) has maintained operations in the Middle East despite conflict disruptions, positioning itself for post-conflict growth. The company is bidding on $3-$4 billion in tenders, aiming to accelerate its 3B3 strategy of reaching a $3 billion revenue run rate in three years. SLB and Baker Hughes (BKR) are also poised to benefit from increased regional energy spending.

NESR (NASDAQ:NESR) reported fastest revenue growth, stock up 12.6%. Select Water Solutions (NYSE:WTTR) revenues up 8.7%, stock up 9%. ProPetro (NYSE:PUMP) revenues down 6.2%, stock down 1.8%. World Kinect (NYSE:WKC) revenues up 50.3%, stock up 1.3%. Patterson-UTI (NASDAQ:PTEN) revenues flat, stock up 38.3%.

Campo Mejia Antonio J sold 63,324 shares of National Energy Services Reunited Corp. (NESR) at $35.45 ($2.24M total) on 2026-09-09.