National Energy Services Reunited (NASDAQ:NESR) CFO Stefan Angeli Sells 13,570 Shares

National Energy Services Reunited (NASDAQ:NESR) CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the sale, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

National Energy Services Reunited Stock Up 0.9%

National Energy Services Reunited stock traded up $0.31 during mid-day trading on Friday, reaching $33.03. The stock had a trading volume of 1,802,521 shares, compared to its average volume of 2,025,660. The firm has a market capitalization of $3.33 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. National Energy Services Reunited has a fifty-two week low of $8.39 and a fifty-two week high of $36.94. The stock’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $25.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Zacks Research raised National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. BTIG Research lifted their target price on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Barclays increased their price target on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, UBS Group lifted their price objective on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $33.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NESR. Mercer Global Advisors Inc. ADV lifted its holdings in National Energy Services Reunited by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,092 shares of the company’s stock valued at $174,000 after purchasing an additional 501 shares during the last quarter. ProShare Advisors LLC raised its holdings in National Energy Services Reunited by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,148 shares of the company’s stock valued at $175,000 after acquiring an additional 719 shares during the period. Ieq Capital LLC boosted its holdings in shares of National Energy Services Reunited by 1.0% in the fourth quarter. Ieq Capital LLC now owns 85,337 shares of the company’s stock worth $1,336,000 after acquiring an additional 842 shares during the period. CWM LLC grew its position in shares of National Energy Services Reunited by 2.9% in the fourth quarter. CWM LLC now owns 30,123 shares of the company’s stock valued at $472,000 after purchasing an additional 845 shares in the last quarter. Finally, USA Financial Formulas lifted its holdings 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 in the last quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

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.