Yousif Mohammed Ali Al-Nowais Sells 242,497 Shares of National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 242,497 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $26.14, for a total transaction of $6,338,871.58. Following the completion of the transaction, the director directly owned 4,013,359 shares in the company, valued at approximately $104,909,204.26. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $11,947,052.92.
• On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The shares were 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 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.
• 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 Price Performance

Shares of NASDAQ NESR opened at $24.28 on Friday. National Energy Services Reunited has a fifty-two week low of $5.47 and a fifty-two week high of $27.25. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 0.33 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04. The firm’s 50-day simple moving average is $23.75 and its 200 day simple moving average is $20.05.

National Energy Services Reunited (NASDAQ:NESR) last posted its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, research analysts anticipate that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake 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 valued at $30,000 after buying an additional 1,499 shares in the last quarter. Legal & General Group Plc purchased a new position in National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the 1st quarter valued at approximately $48,000. Osaic Holdings Inc. purchased a new position in National Energy Services Reunited in the 2nd quarter valued at approximately $73,000. Finally, State of Wyoming purchased a new position in National Energy Services Reunited in the 4th quarter valued at approximately $76,000. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NESR has been the topic of a number of research reports. Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Barclays lifted their price target on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report 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 report on Saturday, May 16th. Finally, BTIG Research lifted their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, National Energy Services Reunited has an average rating of “Moderate Buy” and an average target price of $28.86.

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.