Key Points
- NESR CFO Stefan Angeli sold 13,570 shares at an average price of $35.12, totaling $476,578.40. His remaining 549,763 shares were valued at approximately $19.3 million.
- National Energy Services Reunited reported quarterly EPS of $0.44, beating estimates of $0.35, while revenue reached $520.75 million and increased 59.1% year over year.
- Analysts maintain a broadly positive outlook, with the company carrying a consensus “Buy” rating; UBS and Barclays recently raised their price targets to $45.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) CFO Stefan Angeli sold 13,570 shares of the firm'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 value of $476,578.40. Following the transaction, the chief financial officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
National Energy Services Reunited Price Performance
Shares of NESR stock opened at $33.03 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 35.90, a P/E/G ratio of 0.31 and a beta of 0.33. The stock's fifty day simple moving average is $28.82 and its 200 day simple moving average is $25.24. National Energy Services Reunited has a one year low of $8.39 and a one year high of $36.94.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company's quarterly revenue was up 59.1% on a year-over-year basis. On average, analysts expect that National Energy Services Reunited will post 1.82 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on NESR shares. UBS Group increased their price target on National Energy Services Reunited from $36.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Zacks Research upgraded National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. BTIG Research lifted their price objective on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Barclays boosted their price objective on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Citigroup reaffirmed a "buy" rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $33.57.
Check Out Our Latest Analysis on National Energy Services Reunited
Institutional Trading of National Energy Services Reunited
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of National Energy Services Reunited by 373.8% in the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock valued at $30,000 after purchasing an additional 1,499 shares in the last quarter. Legal & General Group Plc bought a new stake in National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. USA Financial Formulas boosted its position in National Energy Services Reunited by 63.0% during the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company's stock worth $48,000 after acquiring an additional 871 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited during the 1st quarter worth approximately $48,000. Finally, Osaic Holdings Inc. acquired a new stake in shares of National Energy Services Reunited in the second quarter valued at approximately $73,000. 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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