Insider Selling: National Energy Services Reunited (NASDAQ:NESR) CEO Sells $3,500,000.00 in Stock

National Energy Services Reunited (NASDAQ:NESR) CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the chief executive officer owned 3,084,643 shares in the company, 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 the SEC website.

National Energy Services Reunited Stock Up 0.7%

NASDAQ NESR opened at $34.75 on Friday. The firm has a market cap of $3.50 billion, a PE ratio of 37.77, a P/E/G ratio of 0.32 and a beta of 0.39. National Energy Services Reunited has a 52 week low of $9.31 and a 52 week high of $36.94. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $30.61 and its 200-day simple moving average is $26.20.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NESR. Piper Sandler raised their price target on National Energy Services Reunited from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. BTIG Research lifted their price objective on National Energy Services Reunited from $32.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 10th. Barclays boosted their target price on National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. UBS Group raised their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.57.

Institutional Investors Weigh In On National Energy Services Reunited

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in National Energy Services Reunited during the third quarter worth $22,722,000. California State Teachers Retirement System increased its position in shares of National Energy Services Reunited by 59,073.6% in the second 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 in the last quarter. Boston Partners raised its stake 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 during the last quarter. Millennium Management LLC boosted its position in shares of National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company’s stock worth $19,381,000 after buying an additional 1,159,372 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 worth $42,088,000 after buying an additional 997,300 shares in the last quarter. Hedge funds and other institutional investors own 15.55% of the company’s stock.

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.