Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $6,004,358.10 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 223,626 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $26.85, for a total value of $6,004,358.10. Following the transaction, the director owned 5,134,770 shares in the company, valued at approximately $137,868,574.50. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $2,142,307.70.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR opened at $25.46 on Monday. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $27.25. The company has a market cap of $2.57 billion, a PE ratio of 39.17, a P/E/G ratio of 0.34 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The stock’s 50-day moving average is $22.83 and its 200 day moving average is $19.23.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 33.5% on a year-over-year basis. Sell-side analysts anticipate that National Energy Services Reunited will post 1.61 EPS for the current year.

Analysts Set New Price Targets

NESR has been the topic of a number of research analyst reports. BTIG Research upped their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Zacks Research downgraded National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Barclays upped their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, National Energy Services Reunited currently has an average rating of “Moderate Buy” and a consensus target price of $26.86.

Institutional Trading of National Energy Services Reunited

A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its position in shares of National Energy Services Reunited by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock worth $2,585,000 after purchasing an additional 2,630 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of National Energy Services Reunited by 115.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock worth $7,189,000 after purchasing an additional 179,498 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of National Energy Services Reunited in the 1st quarter worth approximately $1,735,000. Arrowstreet Capital Limited Partnership boosted its position in shares of National Energy Services Reunited by 75.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company’s stock worth $18,176,000 after purchasing an additional 365,217 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of National Energy Services Reunited by 50.9% in the 1st quarter. Sei Investments Co. now owns 124,472 shares of the company’s stock worth $2,672,000 after purchasing an additional 42,006 shares in the last quarter. 15.55% of the stock is owned by 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.