Key Points
- National Energy Services Reunited director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares on June 25 for about $51.4 million, cutting his ownership by 89.33% to 229,198 shares.
- The director has been actively selling shares throughout June and May, including multiple large transactions totaling tens of millions of dollars.
- Despite the insider selling, NESR recently reported better-than-expected earnings and revenue growth, while analysts still hold an overall Moderate Buy rating with a consensus price target of $28.86.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 1,919,594 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $26.80, for a total transaction of $51,445,119.20. Following the completion of the transaction, the director directly owned 229,198 shares in the company, valued at $6,142,506.40. The trade was a 89.33% 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 Saturday, June 13th, Yousif Mohammed Ali Al-Nowais sold 332,857 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.90, for a total transaction of $8,953,853.30.
- 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 stock was 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 stock was 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 stock was sold at an average price of $26.14, for a total value 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 value of $91,455.00.
- On Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.06, for a total value 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 value of $2,142,307.70.
National Energy Services Reunited Stock Performance
Shares of NASDAQ NESR opened at $28.49 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 0.36 and a beta of 0.35. The stock's fifty day moving average price is $25.08 and its two-hundred day moving average price is $21.78. National Energy Services Reunited has a one year low of $5.78 and a one year high of $28.60.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 9.77% and a net margin of 4.53%.The business's quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts forecast that National Energy Services Reunited will post 1.68 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dodge & Cox lifted its position in National Energy Services Reunited by 5.6% during the third quarter. Dodge & Cox now owns 2,255,894 shares of the company's stock worth $23,145,000 after purchasing an additional 119,100 shares during the period. Citadel Advisors LLC bought a new position in National Energy Services Reunited in the 3rd quarter valued at about $22,722,000. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 997,300 shares during the period. Boston Partners raised its position in shares of 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 buying an additional 1,189,035 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of 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 buying an additional 1,159,372 shares in the last quarter. Institutional investors and hedge funds own 15.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on NESR shares. BTIG Research lifted their price objective on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Piper Sandler increased their target price on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Zacks Research cut shares of National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. UBS Group lifted 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 research report on Tuesday, May 12th. Finally, Barclays boosted their price target on 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. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, National Energy Services Reunited has an average rating of "Moderate Buy" and a consensus price target of $28.86.
Get Our Latest Stock Analysis on NESR
About National Energy Services Reunited
(
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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