National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais Sells 81,302 Shares

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 81,302 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $26.35, for a total transaction of $2,142,307.70. Following the completion of the sale, the director directly owned 5,053,468 shares of the company’s stock, valued at approximately $133,158,881.80. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, May 13th, Yousif Mohammed Ali Al-Nowais sold 223,626 shares of National Energy Services Reunited stock. The shares were 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 $25.46 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.89. National Energy Services Reunited has a fifty-two week low of $5.47 and a fifty-two week high of $27.25. The firm has a fifty day moving average price of $22.83 and a two-hundred day moving average price of $19.18. The company has a market cap of $2.57 billion, a PE ratio of 39.17, a price-to-earnings-growth ratio of 0.35 and a beta of 0.38.

National Energy Services Reunited (NASDAQ:NESR) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts expect that National Energy Services Reunited will post 1.61 EPS for the current year.

Hedge Funds Weigh In On National Energy Services Reunited

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of National Energy Services Reunited by 373.8% in the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock valued at $30,000 after buying an additional 1,499 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of National Energy Services Reunited in the 3rd quarter valued at $34,000. Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $34,000. Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited in the 1st quarter valued at $48,000. Finally, Osaic Holdings Inc. acquired a new position in shares of National Energy Services Reunited in the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 15.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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 report on Monday, May 11th. UBS Group increased their price target on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen raised shares of National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday. Barclays increased their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Zacks Research cut shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.86.

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.