Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $91,455.00 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.13, for a total value of $91,455.00. Following the completion of the sale, the director directly owned 4,829,400 shares in the company, valued at approximately $126,192,222. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):

• On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.14, for a total transaction of $14,992,440.16.
• On Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.06, for a total transaction of $5,748,002.08.
• On Thursday, May 14th, Yousif Mohammed Ali Al-Nowais sold 81,302 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.35, for a total transaction of $2,142,307.70.
• On Wednesday, May 13th, Yousif Mohammed Ali Al-Nowais sold 223,626 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.85, for a total transaction of $6,004,358.10.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $25.76 on Friday. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $27.25. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.60 billion, a PE ratio of 39.63, a price-to-earnings-growth ratio of 0.34 and a beta of 0.38. The firm has a 50-day moving average price of $23.32 and a 200 day moving average price of $19.63.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. Research analysts anticipate that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NESR shares. Barclays increased their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, UBS Group raised their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, National Energy Services Reunited currently has an average rating of “Moderate Buy” and an average price target of $28.86.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently made changes to their positions in NESR. Royal Bank of Canada raised its holdings in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after acquiring an additional 1,499 shares during the period. State of Alaska Department of Revenue bought a new position in shares of National Energy Services Reunited in the 3rd quarter valued at about $34,000. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $34,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited in the 1st quarter valued at about $48,000. Finally, Osaic Holdings Inc. bought a new position in shares of National Energy Services Reunited in the 2nd quarter valued at about $73,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

About National Energy Services Reunited

National Energy Services Reunited Corp (NASDAQ: NESR) is a publicly traded oilfield services company formed in 2021 through a business combination that brought together complementary drilling and production service providers. The company’s mission is to deliver integrated solutions across the upstream oil and gas value chain, combining regional expertise with global operational standards.

NESR’s service portfolio spans drilling, completion and production, offering products and capabilities such as cementing, coiled tubing, hydraulic fracturing, well stimulation, pumping services and intervention solutions.