National Energy Services Reunited (NASDAQ:NESR) Director Sells $27,922,335.09 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.13, for a total transaction of $27,922,335.09. Following the sale, the director owned 2,481,649 shares in the company, valued at $64,845,488.37. The trade was a 30.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Saturday, June 13th, Yousif Mohammed Ali Al-Nowais sold 332,857 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.90, for a total transaction of $8,953,853.30.
• 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 shares were 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 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 stock was 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 $24.54 on Friday. The business’s 50 day simple moving average is $24.69 and its 200-day simple moving average is $21.20. The firm has a market capitalization of $2.47 billion, a price-to-earnings 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 current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a 12 month low of $5.66 and a 12 month high of $27.69.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping 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 return on equity of 9.77% and a net margin of 4.53%.The company’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities analysts forecast that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barclays increased their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, UBS Group lifted their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.86.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in National Energy Services Reunited in the 3rd quarter valued at about $22,722,000. Boston Partners boosted its position in shares of National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after acquiring an additional 1,189,035 shares during the last quarter. Millennium Management LLC grew its stake in shares of National Energy Services Reunited by 1,482.3% during 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 during the period. Dimensional Fund Advisors LP boosted its holdings in National Energy Services Reunited by 103.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after acquiring an additional 997,300 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in National Energy Services Reunited during the first quarter valued at about $19,045,000. 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.