Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells 81,302 Shares of Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 81,302 shares of National Energy Services Reunited stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $26.35, for a total value of $2,142,307.70. Following the transaction, the director owned 5,053,468 shares in the company, valued at approximately $133,158,881.80. This represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $6,004,358.10.

National Energy Services Reunited Trading Down 2.0%

Shares of NASDAQ NESR traded down $0.53 during trading on Friday, hitting $25.46. 1,683,710 shares of the company were exchanged, compared to its average volume of 1,885,546. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $27.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 1.04. The company has a fifty day moving average price of $22.77 and a 200-day moving average price of $19.14. The firm has a market capitalization of $2.57 billion, a PE ratio of 39.17, a P/E/G ratio of 0.36 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The business had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. The company’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts expect that National Energy Services Reunited will post 1.61 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position 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 purchasing an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of National Energy Services Reunited in the third quarter valued at approximately $34,000. State of Wyoming purchased a new stake in National Energy Services Reunited during the 4th quarter worth approximately $76,000. Clearstead Advisors LLC increased its stake in National Energy Services Reunited by 180.1% during the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after buying an additional 3,171 shares during the period. Finally, Legal & General Group Plc acquired a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a report on Monday, April 20th. UBS Group upped their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays increased their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, National Energy Services Reunited currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.86.

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.