Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $8,953,853.30 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the business’s stock in a transaction dated Saturday, June 13th. The stock was sold at an average price of $26.90, for a total value of $8,953,853.30. Following the transaction, the director directly owned 2,148,792 shares of the company’s stock, valued at approximately $57,802,504.80. The trade was a 13.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, June 12th, Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of National Energy Services Reunited stock. The shares were 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 shares were sold at an average price of $25.55, for a total transaction of $5,110.00.
• On Monday, June 8th, Yousif Mohammed Ali Al-Nowais sold 5,526 shares of National Energy Services Reunited stock. The shares were 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 stock was sold at an average price of $26.12, for a total transaction 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 stock was sold at an average price of $26.14, for a total transaction 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 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 stock was 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 stock was sold at an average price of $26.85, for a total transaction of $6,004,358.10.

National Energy Services Reunited Stock Up 2.2%

Shares of NASDAQ:NESR opened at $24.54 on Friday. National Energy Services Reunited has a 52-week low of $5.66 and a 52-week high of $27.69. The company has a market capitalization of $2.47 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 0.31 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. The company has a fifty day moving average of $24.69 and a 200-day moving average of $21.20.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in 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 worth $30,000 after buying an additional 1,499 shares during the period. Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at about $34,000. Acadian Asset Management LLC acquired a new stake in shares of National Energy Services Reunited in the first quarter valued at about $48,000. Osaic Holdings Inc. acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at about $73,000. Finally, State of Wyoming bought a new position in shares of National Energy Services Reunited during the fourth quarter worth about $76,000. 15.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. BTIG Research increased their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays boosted their price target on 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 upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.86.

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.