National Energy Services Reunited (NASDAQ:NESR) Director Sells $11,947,052.92 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 457,391 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.12, for a total value of $11,947,052.92. Following the sale, the director directly owned 3,555,968 shares in the company, valued at approximately $92,881,884.16. This trade represents a 11.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, May 22nd, Yousif Mohammed Ali Al-Nowais sold 242,497 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.14, for a total value of $6,338,871.58.
• 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 value of $14,992,440.16.
• On Tuesday, May 19th, Yousif Mohammed Ali Al-Nowais sold 3,500 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.13, for a total value of $91,455.00.
• 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 value 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 value 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 shares were sold at an average price of $26.85, for a total value of $6,004,358.10.

National Energy Services Reunited Trading Up 0.3%

NASDAQ NESR opened at $24.35 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a twelve month low of $5.47 and a twelve month high of $27.25. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.38. The business’s fifty day moving average is $23.82 and its 200 day moving average is $20.08.

National Energy Services Reunited (NASDAQ:NESR) last announced its 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 business had revenue of $404.59 million during the quarter, compared to analyst estimates of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.National Energy Services Reunited’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts expect that National Energy Services Reunited will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. bought a new position in shares of National Energy Services Reunited in the 3rd quarter worth about $608,000. Citigroup Inc. raised its position in shares of National Energy Services Reunited by 680.2% in the 3rd quarter. Citigroup Inc. now owns 186,801 shares of the company’s stock worth $1,917,000 after acquiring an additional 162,858 shares in the last quarter. Kazazian Asset Management LLC raised its position in shares of National Energy Services Reunited by 71.7% in the 3rd quarter. Kazazian Asset Management LLC now owns 143,650 shares of the company’s stock worth $1,474,000 after acquiring an additional 60,000 shares in the last quarter. Oxbow Advisors LLC bought a new position in shares of National Energy Services Reunited in the 4th quarter worth about $4,102,000. Finally, MMCAP International Inc. SPC raised its position in shares of National Energy Services Reunited by 40.5% in the 3rd quarter. MMCAP International Inc. SPC now owns 845,142 shares of the company’s stock worth $8,671,000 after acquiring an additional 243,785 shares in the last quarter. 15.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NESR has been the subject of several analyst reports. Barclays raised their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. BTIG Research raised their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Piper Sandler raised their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

National Energy Services Reunited Company Profile

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.