Stefan Angeli Sells 13,570 Shares of National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) CFO Stefan Angeli sold 13,570 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the sale, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

National Energy Services Reunited Price Performance

NESR opened at $33.03 on Friday. The business has a fifty day moving average of $28.82 and a 200 day moving average of $25.24. The stock has a market cap of $3.33 billion, a P/E ratio of 35.90, a PEG ratio of 0.31 and a beta of 0.33. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 52-week low of $8.39 and a 52-week high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The business had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. The company’s revenue was up 59.1% on a year-over-year basis. As a group, sell-side analysts anticipate that National Energy Services Reunited will post 1.82 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently bought and sold shares of NESR. Citadel Advisors LLC purchased a new position in shares of National Energy Services Reunited in the 3rd quarter valued at $22,722,000. Boston Partners raised its position in shares of National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after acquiring an additional 1,189,035 shares in the last quarter. Millennium Management LLC lifted its stake in shares of National Energy Services Reunited by 1,482.3% during the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of National Energy Services Reunited by 103.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock worth $42,088,000 after purchasing an additional 997,300 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in National Energy Services Reunited during the first quarter valued at about $19,045,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Analyst Ratings Changes

NESR has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. BTIG Research boosted their price objective on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research raised shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Buy” and a consensus price target of $33.57.

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.