Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells 220,568 Shares of Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 220,568 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $26.06, for a total value of $5,748,002.08. Following the sale, the director owned 4,832,900 shares in the company, valued at approximately $125,945,374. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 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 Stock Performance

Shares of NESR traded up $0.69 on Wednesday, reaching $26.10. 3,477,411 shares of the stock traded hands, compared to its average volume of 1,916,220. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 40.15, a P/E/G ratio of 0.35 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a 12 month low of $5.47 and a 12 month high of $27.25. The stock’s 50-day moving average price is $23.00 and its 200-day moving average price is $19.41.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm’s quarterly revenue was up 33.5% on a year-over-year basis. Equities analysts forecast that National Energy Services Reunited will post 1.61 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently bought and sold shares of the stock. Dodge & Cox lifted its stake in shares of National Energy Services Reunited by 5.6% during the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after acquiring an additional 119,100 shares during the period. Citadel Advisors LLC acquired a new position in shares of National Energy Services Reunited during the third quarter valued at $22,722,000. Dimensional Fund Advisors LP lifted its stake in shares of National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after acquiring an additional 997,300 shares during the period. Boston Partners lifted its stake in shares of National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after acquiring an additional 1,189,035 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after acquiring an additional 1,159,372 shares during the period. 15.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler upped their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Barclays upped their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. UBS Group upped their price target on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, BTIG Research upped their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.86.

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.