Yousif Mohammed Ali Al-Nowais Sells 332,857 Shares of National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the firm’s stock in a transaction on Saturday, June 13th. The stock was sold at an average price of $26.90, for a total transaction of $8,953,853.30. Following the completion of the sale, the director owned 2,148,792 shares in the company, valued at approximately $57,802,504.80. The trade was a 13.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was 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 stock was 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 stock was 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 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 stock was 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 Trading Down 3.7%

Shares of National Energy Services Reunited stock opened at $24.02 on Thursday. The company’s fifty day simple moving average is $24.64 and its 200-day simple moving average is $21.13. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 0.32 and a beta of 0.35. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a 1 year low of $5.66 and a 1 year high of $27.69.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share (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 business had revenue of $404.59 million for the quarter, compared to the consensus estimate of $370.87 million. The company’s revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts expect that National Energy Services Reunited will post 1.68 EPS for the current year.

Institutional Trading of National Energy Services Reunited

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in National Energy Services Reunited by 21.4% during the 1st quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock worth $12,826,000 after purchasing an additional 105,205 shares in the last quarter. Empowered Funds LLC increased its stake in National Energy Services Reunited by 9.3% during the 1st quarter. Empowered Funds LLC now owns 491,009 shares of the company’s stock worth $10,542,000 after purchasing an additional 41,741 shares in the last quarter. Lazard Asset Management LLC increased its stake in National Energy Services Reunited by 2.2% during 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 increased its stake in National Energy Services Reunited by 115.6% during 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. Finally, Public Employees Retirement System of Ohio bought a new stake in National Energy Services Reunited during the 1st quarter worth approximately $1,735,000. 15.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NESR has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Barclays upped 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 research report on Wednesday, May 13th. Piper Sandler boosted their price objective on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, BTIG Research increased their price target on shares of 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. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.