National Energy Services Reunited (NASDAQ:NESR) CEO Sherif Foda Sells 100,000 Shares of Stock

National Energy Services Reunited (NASDAQ:NESR) CEO Sherif Foda sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

National Energy Services Reunited Stock Up 0.1%

National Energy Services Reunited stock opened at $34.74 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. National Energy Services Reunited has a 12-month low of $9.15 and a 12-month high of $36.94. The firm’s fifty day moving average is $30.33 and its 200 day moving average is $26.04. The company has a market capitalization of $3.50 billion, a PE ratio of 37.76, a PEG ratio of 0.33 and a beta of 0.39.

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

Institutional Trading of National Energy Services Reunited

Institutional investors have recently made changes to their positions in the company. Dodge & Cox lifted its position in shares of National Energy Services Reunited by 5.6% during the third quarter. Dodge & Cox now owns 2,255,894 shares of the company’s stock valued at $23,145,000 after purchasing an additional 119,100 shares in the last quarter. Citadel Advisors LLC bought a new stake in National Energy Services Reunited in the 3rd quarter worth about $22,722,000. California State Teachers Retirement System increased its stake in National Energy Services Reunited by 59,073.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,162,203 shares of the company’s stock valued at $64,715,000 after buying an additional 2,158,549 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company’s stock valued at $42,088,000 after buying an additional 997,300 shares during the last quarter. Finally, Boston Partners lifted its position in shares of National Energy Services Reunited by 155.6% during the 4th quarter. Boston Partners now owns 1,953,328 shares of the company’s stock worth $30,594,000 after buying an additional 1,189,035 shares in the last quarter. Institutional investors own 15.55% of the company’s stock.

Analysts Set New Price Targets

NESR has been the subject of a number of research reports. Barclays raised their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. BTIG Research upped their price objective on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, August 10th. UBS Group raised their price objective on shares of National Energy Services Reunited from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded shares of National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $33.57.

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.