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

National Energy Services Reunited (NASDAQ:NESR) CFO Stefan Angeli sold 13,570 shares of the business’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 completion of the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at approximately $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

National Energy Services Reunited Trading Up 0.9%

Shares of NESR stock opened at $33.03 on Friday. National Energy Services Reunited has a 12 month low of $8.39 and a 12 month high of $36.94. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $28.82 and its two-hundred day moving average is $25.24. The company has a market cap of $3.33 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 0.31 and a beta of 0.33.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data 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 net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million during the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited’s revenue was up 59.1% compared to the same quarter last year. Equities analysts predict that National Energy Services Reunited will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

NESR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. BTIG Research upped their price target on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat.com, National Energy Services Reunited presently has a consensus rating of “Buy” and an average target price of $33.57.

Institutional Trading of National Energy Services Reunited

Several institutional investors have recently modified their holdings of the company. Dodge & Cox raised its stake in shares of National Energy Services Reunited by 5.6% in the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares in the last quarter. Citadel Advisors LLC bought a new stake in National Energy Services Reunited in the 3rd quarter valued at $22,722,000. Dimensional Fund Advisors LP increased its holdings in National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after buying an additional 997,300 shares during the period. Boston Partners raised its stake 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 valued at $30,594,000 after buying an additional 1,189,035 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock valued at $19,381,000 after buying an additional 1,159,372 shares in the last quarter. Institutional investors and hedge funds 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.