Key Points
- Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited on May 20 at an average price of $26.14, totaling nearly $15.0 million. After the sale, he still owned 4.26 million shares, and the transaction reduced his stake by 11.88%.
- Al-Nowais also made several other sales in the days leading up to that trade, including large transactions on May 13 and May 18. Taken together, the filings show a notable round of insider selling in NESR shares.
- NESR reported stronger-than-expected quarterly results, with earnings of $0.26 per share versus the $0.21 consensus and revenue of $404.6 million, up 33.5% year over year. Analysts currently rate the stock a Moderate Buy with an average target price of $28.86.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $26.14, for a total transaction of $14,992,440.16. Following the transaction, the director owned 4,255,856 shares in the company, valued at approximately $111,248,075.84. The trade was a 11.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):
- On Tuesday, May 19th, Yousif Mohammed Ali Al-Nowais sold 3,500 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.13, for a total transaction of $91,455.00.
- On Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.06, for a total transaction 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 shares were sold at an average price of $26.35, for a total transaction 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 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
National Energy Services Reunited stock opened at $25.76 on Friday. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $27.25. The firm has a 50 day moving average price of $23.32 and a 200 day moving average price of $19.63. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 0.34 and a beta of 0.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) 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. National Energy Services Reunited's revenue was up 33.5% on a year-over-year basis. Sell-side analysts predict that National Energy Services Reunited will post 1.64 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on NESR shares. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. Barclays boosted their target price on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Zacks Research downgraded shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Wall Street Zen raised shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Finally, UBS Group increased their target price on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, National Energy Services Reunited currently has an average rating of "Moderate Buy" and a consensus target price of $28.86.
Read Our Latest Report on National Energy Services Reunited
Institutional Trading of National Energy Services Reunited
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its position in National Energy Services Reunited by 21.4% during the 1st quarter. Bank of America Corp DE now owns 597,400 shares of the company's stock worth $12,826,000 after purchasing an additional 105,205 shares in the last quarter. Empowered Funds LLC increased its position in National Energy Services Reunited by 9.3% during the 1st quarter. Empowered Funds LLC now owns 491,009 shares of the company's stock worth $10,542,000 after purchasing an additional 41,741 shares in the last quarter. Lazard Asset Management LLC increased its position in National Energy Services Reunited by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 120,408 shares of the company's stock worth $2,585,000 after purchasing an additional 2,630 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in National Energy Services Reunited by 115.6% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 334,823 shares of the company's stock worth $7,189,000 after purchasing an additional 179,498 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in National Energy Services Reunited during the 1st quarter worth approximately $1,735,000. Institutional investors and hedge funds own 15.55% of the company's stock.
National Energy Services Reunited Company Profile
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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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