National Energy Services Reunited (NASDAQ:NESR) Director Mejia Antonio Campo Sells 63,324 Shares

National Energy Services Reunited (NASDAQ:NESR) Director Mejia Antonio Campo sold 63,324 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the completion of the sale, the director directly owned 696,398 shares in the company, valued at approximately $24,687,309.10. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

National Energy Services Reunited Price Performance

Shares of NESR opened at $33.54 on Friday. National Energy Services Reunited has a twelve month low of $9.92 and a twelve month high of $36.94. The firm’s fifty day simple moving average is $31.17 and its 200-day simple moving average is $26.57. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 36.46, a PEG ratio of 0.32 and a beta of 0.39. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

National Energy Services Reunited (NASDAQ:NESR) last issued its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The company’s revenue was up 59.1% on a year-over-year basis. Equities analysts forecast that National Energy Services Reunited will post 1.82 EPS for the current fiscal year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently made changes to their positions in NESR. Mercer Global Advisors Inc. ADV boosted its holdings in shares of National Energy Services Reunited by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after acquiring an additional 501 shares during the period. Allworth Financial LP raised its position in National Energy Services Reunited by 51.0% in the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares during the last quarter. ProShare Advisors LLC raised its position in National Energy Services Reunited by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after purchasing an additional 719 shares during the last quarter. Ieq Capital LLC boosted its stake in National Energy Services Reunited by 1.0% during the 4th quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after purchasing an additional 842 shares during the period. Finally, USA Financial Formulas boosted its stake in National Energy Services Reunited by 63.0% during the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after purchasing an additional 871 shares during the period. 15.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NESR. UBS Group boosted their target price on National Energy Services Reunited from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Piper Sandler increased their price target on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a report on Monday, August 10th. Barclays boosted their price objective on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $33.57.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.