National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais Sells 220,568 Shares

National Energy Services Reunited (NASDAQ:NESRGet Free Report) Director Yousif Mohammed Ali Al-Nowais sold 220,568 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $26.06, for a total transaction of $5,748,002.08. Following the completion of the transaction, the director owned 4,832,900 shares of the company’s stock, valued at $125,945,374. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):

  • 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 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.
  • 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 value of $6,004,358.10.

National Energy Services Reunited Price Performance

Shares of NASDAQ NESR opened at $26.10 on Thursday. The business’s 50 day moving average price is $23.11 and its 200 day moving average price is $19.49. The firm has a market cap of $2.63 billion, a P/E ratio of 40.15, a P/E/G ratio of 0.33 and a beta of 0.38. National Energy Services Reunited has a 52 week low of $5.47 and a 52 week high of $27.25. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18.

National Energy Services Reunited (NASDAQ:NESRGet Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. National Energy Services Reunited had a return on equity of 9.77% and a net margin of 4.53%.The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. The company’s quarterly revenue was up 33.5% on a year-over-year basis. On average, sell-side analysts expect that National Energy Services Reunited will post 1.64 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in National Energy Services Reunited by 373.8% in the 4th 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. State of Alaska Department of Revenue acquired a new stake in shares of National Energy Services Reunited in the 3rd quarter worth $34,000. State of Wyoming acquired a new stake in shares of National Energy Services Reunited in the 4th quarter worth $76,000. Clearstead Advisors LLC increased its stake in shares of National Energy Services Reunited by 180.1% in the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock worth $77,000 after acquiring an additional 3,171 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of National Energy Services Reunited in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NESR shares. Barclays upped their price objective on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. BTIG Research increased their target price on National Energy Services Reunited from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Piper Sandler increased their target price on National Energy Services Reunited from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group increased their target price on 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, Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, National Energy Services Reunited presently has an average rating of “Moderate Buy” and a consensus target price of $28.86.

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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.

Further Reading

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