Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells 332,857 Shares of Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the stock in a transaction on Saturday, June 13th. The stock was sold at an average price of $26.90, for a total value of $8,953,853.30. Following the completion of the sale, the director directly owned 2,148,792 shares in the company, valued at $57,802,504.80. This represents a 13.41% decrease in their ownership of the stock. The sale 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 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $6,004,358.10.

National Energy Services Reunited Stock Performance

NASDAQ NESR traded down $1.19 during trading hours on Tuesday, hitting $24.92. The company had a trading volume of 1,430,094 shares, compared to its average volume of 1,889,782. National Energy Services Reunited has a fifty-two week low of $5.66 and a fifty-two week high of $27.69. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $24.53 and a 200-day simple moving average of $20.98. The firm has a market cap of $2.51 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR) last released its quarterly earnings results 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 return on equity of 9.77% and a net margin of 4.53%.The company had revenue of $404.59 million during the quarter, compared to analysts’ expectations of $370.87 million. The company’s revenue was up 33.5% on a year-over-year basis. Equities analysts predict that National Energy Services Reunited will post 1.68 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in National Energy Services Reunited by 21.4% during the first quarter. Bank of America Corp DE now owns 597,400 shares of the company’s stock valued at $12,826,000 after buying an additional 105,205 shares in the last quarter. Empowered Funds LLC boosted its stake in National Energy Services Reunited by 9.3% during the first quarter. Empowered Funds LLC now owns 491,009 shares of the company’s stock valued at $10,542,000 after buying an additional 41,741 shares in the last quarter. Lazard Asset Management LLC boosted its stake in National Energy Services Reunited by 2.2% during the first quarter. Lazard Asset Management LLC now owns 120,408 shares of the company’s stock valued at $2,585,000 after buying an additional 2,630 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in National Energy Services Reunited by 115.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company’s stock valued at $7,189,000 after buying an additional 179,498 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in National Energy Services Reunited during the first quarter valued at about $1,735,000. Institutional investors own 15.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NESR shares. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Piper Sandler increased their price target on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, BTIG Research increased their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, National Energy Services Reunited 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.