Key Points
- Director Yousif Mohammed Ali Al-Nowais sold 332,857 NESR shares on June 13 at an average price of $26.90, totaling about $8.95 million. The sale left him with 2,148,792 shares, a 13.41% reduction in his ownership.
- The director has been actively selling shares in multiple recent transactions, including a much larger sale of 1,068,593 shares on June 12 for about $27.9 million. Several other sales in May and June add up to a sustained pattern of insider selling.
- NESR has shown strong recent operating results and analyst support, with quarterly earnings of $0.26 per share beating estimates and revenue up 33.5% year over year. Analysts currently rate the stock a “Moderate Buy” with an average price target of $28.86.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 332,857 shares of the stock in a transaction that occurred on Saturday, June 13th. The shares were sold at an average price of $26.90, for a total transaction of $8,953,853.30. Following the transaction, the director owned 2,148,792 shares in the company, valued at approximately $57,802,504.80. This represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):
- On Friday, June 12th, Yousif Mohammed Ali Al-Nowais sold 1,068,593 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.13, for a total transaction of $27,922,335.09.
- On Tuesday, June 9th, Yousif Mohammed Ali Al-Nowais sold 200 shares of National Energy Services Reunited stock. The shares were sold at an average price of $25.55, for a total transaction of $5,110.00.
- On Monday, June 8th, Yousif Mohammed Ali Al-Nowais sold 5,526 shares of National Energy Services Reunited stock. The shares were sold at an average price of $25.53, for a total transaction of $141,078.78.
- On Tuesday, May 26th, Yousif Mohammed Ali Al-Nowais sold 457,391 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.12, for a total transaction of $11,947,052.92.
- On Friday, May 22nd, Yousif Mohammed Ali Al-Nowais sold 242,497 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.14, for a total transaction of $6,338,871.58.
- On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.14, for a total transaction of $14,992,440.16.
- 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
Shares of NESR opened at $24.94 on Wednesday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 0.33 and a beta of 0.35. National Energy Services Reunited has a twelve month low of $5.66 and a twelve month high of $27.69. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $24.58 and a two-hundred day moving average of $21.06.
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 for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $404.59 million during the quarter, compared to the consensus estimate of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. National Energy Services Reunited's revenue for the quarter was up 33.5% on a year-over-year basis. As a group, analysts predict that National Energy Services Reunited will post 1.68 earnings per share for the current fiscal year.
Institutional Investors Weigh In On National Energy Services Reunited
Several institutional investors and hedge funds have recently made changes to their positions in NESR. Citadel Advisors LLC acquired a new stake in shares of National Energy Services Reunited during the third quarter worth $22,722,000. Boston Partners raised its holdings in shares of National Energy Services Reunited by 155.6% during the fourth quarter. Boston Partners now owns 1,953,328 shares of the company's stock worth $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Millennium Management LLC raised its holdings in shares of National Energy Services Reunited by 1,482.3% during the fourth quarter. Millennium Management LLC now owns 1,237,585 shares of the company's stock worth $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock worth $42,088,000 after purchasing an additional 997,300 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of National Energy Services Reunited during the first quarter worth $19,045,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
NESR has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Barclays raised 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 research note on Wednesday, May 13th. Zacks Research downgraded shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Finally, UBS Group lifted their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, National Energy Services Reunited presently has an average rating of "Moderate Buy" and an average price target of $28.86.
View Our Latest Report on NESR
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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