National Energy Services Reunited (NASDAQ:NESR) Director Sells $51,445,119.20 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $26.80, for a total value of $51,445,119.20. Following the completion of the transaction, the director owned 229,198 shares of the company’s stock, valued at approximately $6,142,506.40. The trade was a 89.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Saturday, June 13th, Yousif Mohammed Ali Al-Nowais sold 332,857 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.90, for a total transaction of $8,953,853.30.
• On Friday, June 12th, Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.13, for a total transaction of $27,922,335.09.
• On Tuesday, June 9th, Yousif Mohammed Ali Al-Nowais sold 200 shares of National Energy Services Reunited stock. The stock was sold at an average price of $25.55, for a total value of $5,110.00.
• On Monday, June 8th, Yousif Mohammed Ali Al-Nowais sold 5,526 shares of National Energy Services Reunited stock. The stock was sold at an average price of $25.53, for a total transaction of $141,078.78.
• On Tuesday, May 26th, Yousif Mohammed Ali Al-Nowais sold 457,391 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.12, for a total value of $11,947,052.92.
• 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 stock was 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 transaction 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 transaction 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 transaction of $2,142,307.70.

National Energy Services Reunited Stock Performance

Shares of NESR stock traded up $0.25 during trading hours on Monday, reaching $28.49. The company had a trading volume of 3,355,279 shares, compared to its average volume of 1,998,932. The business has a fifty day moving average price of $24.98 and a 200-day moving average price of $21.68. National Energy Services Reunited has a one year low of $5.78 and a one year high of $28.60. The firm has a market cap of $2.87 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 0.36 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company had revenue of $404.59 million for the quarter, compared to the consensus estimate of $370.87 million. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Sell-side analysts predict that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. UBS Group boosted their price target on National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays upped their price target on shares of 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. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.86.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after purchasing an additional 1,499 shares during the period. Legal & General Group Plc bought a new position in National Energy Services Reunited in the 2nd quarter worth $34,000. Acadian Asset Management LLC bought a new position in National Energy Services Reunited in the 1st quarter worth $48,000. Osaic Holdings Inc. bought a new stake in National Energy Services Reunited during the second quarter valued at about $73,000. Finally, State of Wyoming purchased a new position in shares of National Energy Services Reunited in the fourth quarter valued at about $76,000. Institutional investors own 15.55% of the company’s stock.

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.