Key Points
- Director Mejia Antonio Campo sold 63,324 NESR shares at an average price of $35.45, generating approximately $2.24 million. The sale reduced his holdings by 8.34%, leaving him with 696,398 shares.
- National Energy Services Reunited reported strong quarterly results, with EPS of $0.44 versus estimates of $0.35 and revenue of $520.75 million, up 59.1% year over year.
- Analysts remain bullish, with the stock carrying a consensus “Buy” rating and recent price-target increases to as high as $45. Institutional investors currently own 15.55% of the company.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Mejia Antonio Campo sold 63,324 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $35.45, for a total transaction of $2,244,835.80. Following the transaction, the director owned 696,398 shares of the company's stock, valued at approximately $24,687,309.10. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
National Energy Services Reunited Stock Down 0.8%
National Energy Services Reunited stock opened at $33.54 on Friday. The stock's 50 day moving average price is $31.17 and its 200 day moving average price is $26.57. National Energy Services Reunited has a 1-year low of $9.92 and a 1-year high of $36.94. The company has a market cap of $3.38 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.86.
National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million during 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 revenue for the quarter was up 59.1% on a year-over-year basis. On average, sell-side analysts predict that National Energy Services Reunited will post 1.82 EPS for the current fiscal year.
Institutional Trading of National Energy Services Reunited
Several large investors have recently modified their holdings of the business. Royal Bank of Canada grew its position 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 during the last quarter. Legal & General Group Plc purchased a new stake in National Energy Services Reunited in the 2nd quarter valued at approximately $34,000. Integrated Wealth Concepts LLC purchased a new stake in National Energy Services Reunited in the 2nd quarter valued at approximately $45,000. USA Financial Formulas grew its holdings 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 valued at $48,000 after buying an additional 871 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of National Energy Services Reunited in the first quarter worth $48,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. Wall Street Zen raised shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Citigroup reissued a "buy" rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Barclays raised their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Weiss Ratings cut National Energy Services Reunited from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th. Finally, BTIG Research boosted their target price on National Energy Services Reunited from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat, National Energy Services Reunited presently has a consensus rating of "Buy" and a consensus price target of $33.57.
Read Our Latest Report on NESR
National Energy Services Reunited Company Profile
(
Get Free Report)
National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.
The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.
Further Reading
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