Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $5,748,002.08 in Stock

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

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

• 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 transaction 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 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.
• 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 transaction of $6,004,358.10.

National Energy Services Reunited Stock Performance

Shares of NASDAQ:NESR opened at $25.76 on Friday. The company’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $19.63. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 39.63, a price-to-earnings-growth ratio of 0.34 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 1 year low of $5.47 and a 1 year high of $27.25.

National Energy Services Reunited (NASDAQ:NESR) last announced 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 net margin of 4.53% and a return on equity of 9.77%. National Energy Services Reunited’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts predict that National Energy Services Reunited will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NESR. Piper Sandler lifted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Barclays boosted 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, May 13th. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, BTIG Research boosted their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.86.

Institutional Trading of National Energy Services Reunited

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake 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 buying an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of National Energy Services Reunited during the third quarter worth $34,000. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited during the second quarter worth $34,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited during the first quarter worth $48,000. Finally, Osaic Holdings Inc. acquired a new position in shares of National Energy Services Reunited during the second quarter worth $73,000. Institutional investors own 15.55% of the company’s stock.

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.