National Energy Services Reunited (NASDAQ:NESR) Director Sells $14,992,440.16 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $26.14, for a total value of $14,992,440.16. Following the transaction, the director owned 4,255,856 shares of the company’s stock, valued at approximately $111,248,075.84. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $26.85, for a total value of $6,004,358.10.

National Energy Services Reunited Stock Performance

NESR stock traded down $0.53 during trading on Friday, reaching $25.76. 1,335,230 shares of the company’s stock were exchanged, compared to its average volume of 1,912,515. 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 1-year low of $5.47 and a 1-year high of $27.25. The company’s fifty day moving average price is $23.21 and its 200-day moving average price is $19.59. The firm has a market cap of $2.60 billion, a PE ratio of 39.63, a P/E/G ratio of 0.34 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating 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%.The business’s revenue for the quarter was up 33.5% on a year-over-year basis. On average, research 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 bought and sold shares of the company. Royal Bank of Canada increased its position in National Energy Services Reunited by 373.8% in the 4th 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 during the last quarter. State of Alaska Department of Revenue acquired a new position in National Energy Services Reunited in the 3rd quarter worth about $34,000. Legal & General Group Plc acquired a new position in National Energy Services Reunited in the 2nd quarter worth about $34,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited in the 1st quarter worth about $48,000. Finally, Osaic Holdings Inc. acquired a new position in National Energy Services Reunited in the 2nd quarter worth about $73,000. 15.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NESR. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barclays upped their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. UBS Group upped their target price on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Piper Sandler upped their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday. 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average 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.