Key Points
- CEO Sherif Foda sold 100,000 NESR shares at $35 each for total proceeds of $3.5 million, reducing his direct stake by 3.14% to 3,084,643 shares.
- National Energy Services Reunited reported a strong quarter, with earnings of $0.44 per share versus the $0.35 estimate and revenue of $520.75 million, up 59.1% year over year.
- Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and a consensus price target of $33.57; shares opened at $34.74 and recently traded near their 52-week high.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) CEO Sherif Foda sold 100,000 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,643 shares in the company, valued at approximately $107,962,505. This represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
National Energy Services Reunited Trading Up 0.1%
Shares of National Energy Services Reunited stock opened at $34.74 on Thursday. The firm has a market cap of $3.50 billion, a PE ratio of 37.76, a P/E/G ratio of 0.33 and a beta of 0.39. National Energy Services Reunited has a 1 year low of $9.15 and a 1 year high of $36.94. 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 stock has a fifty day moving average price of $30.33 and a 200-day moving average price of $26.04.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million for the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm's revenue for the quarter was up 59.1% compared to the same quarter last year. Equities research analysts anticipate that National Energy Services Reunited will post 1.82 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of National Energy Services Reunited in a research report on Monday, August 10th. Piper Sandler increased their price objective on National Energy Services Reunited from $33.00 to $35.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Zacks Research raised National Energy Services Reunited from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. UBS Group boosted their target price 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. Finally, Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to data from MarketBeat, National Energy Services Reunited has a consensus rating of "Buy" and a consensus target price of $33.57.
Get Our Latest Report on National Energy Services Reunited
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in National Energy Services Reunited by 373.8% during the 4th quarter. Royal Bank of Canada now owns 1,900 shares of the company's stock valued at $30,000 after acquiring an additional 1,499 shares during the period. Legal & General Group Plc bought a new position in shares of National Energy Services Reunited in the second quarter worth $34,000. USA Financial Formulas grew its position in shares of National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company's stock valued at $48,000 after purchasing an additional 871 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of National Energy Services Reunited during the 1st quarter valued at $48,000. Finally, Osaic Holdings Inc. bought a new stake in shares of National Energy Services Reunited during the 2nd quarter valued at $73,000. 15.55% of the stock is owned by institutional investors.
About National Energy Services Reunited
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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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