Key Points
- Director Yousif Mohammed Ali Al-Nowais sold 223,626 shares of National Energy Services Reunited on May 13 at an average price of $26.85, for proceeds of about $6.0 million. After the sale, he still held more than 5.13 million shares.
- NESR reported stronger-than-expected quarterly results, posting EPS of $0.26 versus the $0.21 consensus estimate and revenue of $404.6 million, up 33.5% year over year.
- Analysts remain generally constructive on the stock, with seven Buy ratings and two Hold ratings; the consensus price target is $26.86, close to the recent trading price.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 81,302 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $26.35, for a total transaction of $2,142,307.70. Following the sale, the director owned 5,053,468 shares of the company's stock, valued at $133,158,881.80. This trade represents a 1.58% decrease in their position. The sale was disclosed in a filing 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 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 Trading Down 2.0%
Shares of National Energy Services Reunited stock opened at $25.46 on Friday. The stock has a market capitalization of $2.57 billion, a P/E ratio of 39.17, a price-to-earnings-growth ratio of 0.35 and a beta of 0.38. The company has a quick ratio of 0.89, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $22.83 and a 200 day simple moving average of $19.18. National Energy Services Reunited has a 12-month low of $5.47 and a 12-month high of $27.25.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. The business had revenue of $404.59 million during 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 company's revenue for the quarter was up 33.5% compared to the same quarter last year. Research analysts expect that National Energy Services Reunited will post 1.61 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on NESR. Barclays increased their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday. BTIG Research increased their target price on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. UBS Group raised their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.86.
View Our Latest Research Report on National Energy Services Reunited
Institutional Investors Weigh In On National Energy Services Reunited
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox increased its position in National Energy Services Reunited by 5.6% in the 3rd quarter. Dodge & Cox now owns 2,255,894 shares of the company's stock valued at $23,145,000 after acquiring an additional 119,100 shares in the last quarter. Citadel Advisors LLC acquired a new stake in National Energy Services Reunited in the 3rd quarter valued at about $22,722,000. Dimensional Fund Advisors LP increased its position in 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 valued at $42,088,000 after acquiring an additional 997,300 shares in the last quarter. Boston Partners increased its position in National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company's stock valued at $30,594,000 after acquiring an additional 1,189,035 shares in the last quarter. Finally, Millennium Management LLC increased its position in 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 valued at $19,381,000 after acquiring an additional 1,159,372 shares in the last quarter. Institutional investors and hedge funds own 15.55% of the company's stock.
National Energy Services Reunited Company Profile
(
Get Free Report)
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.
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