Yousif Mohammed Ali Al-Nowais Sells 3,500 Shares of National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.13, for a total transaction of $91,455.00. Following the completion of the sale, the director directly owned 4,829,400 shares in the company, valued at approximately $126,192,222. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 Price Performance

Shares of National Energy Services Reunited stock opened at $26.29 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 0.34 and a beta of 0.38. National Energy Services Reunited has a 1-year low of $5.47 and a 1-year high of $27.25. The firm’s 50-day moving average price is $23.21 and its two-hundred day moving average price is $19.59.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $404.59 million for the quarter, compared to analysts’ expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts predict that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Energy Services Reunited

A number of large investors have recently modified their holdings of NESR. Citadel Advisors LLC acquired a new position in shares of National Energy Services Reunited during the third quarter worth approximately $22,722,000. Boston Partners lifted its holdings in National Energy Services Reunited by 155.6% in the fourth quarter. Boston Partners now owns 1,953,328 shares of the company’s stock valued at $30,594,000 after buying an additional 1,189,035 shares during the period. Millennium Management LLC lifted its holdings in National Energy Services Reunited by 1,482.3% in the fourth 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 lifted 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 buying an additional 997,300 shares during the period. Finally, Walleye Capital LLC acquired a new position in National Energy Services Reunited in the first quarter valued at approximately $19,045,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NESR shares. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. UBS Group upped their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Piper Sandler upped their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.86.

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.