National Energy Services Reunited (NASDAQ:NESR) CFO Sells $476,578.40 in Stock

National Energy Services Reunited (NASDAQ:NESR) CFO Stefan Angeli sold 13,570 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This trade represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

National Energy Services Reunited Stock Performance

NASDAQ:NESR opened at $33.03 on Monday. 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 company has a market cap of $3.33 billion, a P/E ratio of 35.90, a P/E/G ratio of 0.31 and a beta of 0.33. National Energy Services Reunited has a fifty-two week low of $8.39 and a fifty-two week high of $36.94. The firm’s 50 day moving average is $28.82 and its two-hundred day moving average is $25.28.

National Energy Services Reunited (NASDAQ:NESR) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company 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%. The firm’s quarterly revenue was up 59.1% compared to the same quarter last year. Analysts expect that National Energy Services Reunited will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded National Energy Services Reunited from a “hold (c+)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barclays increased their target price on shares of 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. 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. Finally, Citigroup reiterated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to data from MarketBeat.com, National Energy Services Reunited has an average rating of “Buy” and an average target price of $33.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NESR. Millennium Management LLC grew its stake in shares of National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after buying an additional 149,796 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of National Energy Services Reunited during the 1st quarter valued at about $1,425,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the 1st quarter worth approximately $48,000. Geode Capital Management LLC lifted its position in National Energy Services Reunited by 2,227.2% during the 2nd quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock worth $4,908,000 after acquiring an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in National Energy Services Reunited in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds 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.