National Energy Services Reunited (NASDAQ:NESR – Get Free Report)’s share price was down 8.5% during trading on Thursday. The company traded as low as $20.21 and last traded at $19.84. 312,663 shares traded hands during trading, a decline of 85% from the average session volume of 2,128,526 shares. The stock had previously closed at $21.69.
Analyst Ratings Changes
Several brokerages recently weighed in on NESR. Citigroup reissued a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Piper Sandler decreased their price target on shares of National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Barclays lowered their price target on shares of National Energy Services Reunited from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, October 15th. Zacks Research lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 1st. Finally, Wall Street Zen lowered shares of National Energy Services Reunited from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, National Energy Services Reunited has an average rating of “Moderate Buy” and an average target price of $40.38.
National Energy Services Reunited Stock Performance
The stock’s 50 day moving average price is $29.85 and its 200 day moving average price is $27.41. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 0.25 and a beta of 0.48.
National Energy Services Reunited (NASDAQ:NESR – Get Free Report) last released its earnings results 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. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The business had revenue of $520.75 million for the quarter, compared to analysts’ expectations of $448.54 million. National Energy Services Reunited’s quarterly revenue was up 59.1% compared to the same quarter last year. On average, analysts expect that National Energy Services Reunited will post 1.65 EPS for the current fiscal year.
Insiders Place Their Bets
In other National Energy Services Reunited news, Director Mejia Antonio J. Campo sold 63,324 shares of National Energy Services Reunited stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the transaction, the director owned 696,398 shares in the company, valued at $24,687,309.10. This trade represents a 8.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sherif Foda sold 100,000 shares of National Energy Services Reunited stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 176,894 shares of company stock valued at $6,221,414 over the last quarter. Company insiders own 9.70% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in NESR. Farther Finance Advisors LLC boosted its holdings in National Energy Services Reunited by 351.2% in the third quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock valued at $29,000 after acquiring an additional 885 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in National Energy Services Reunited during the 2nd quarter worth approximately $45,000. Allworth Financial LP increased its position in National Energy Services Reunited by 51.0% during the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock worth $57,000 after purchasing an additional 649 shares in the last quarter. USA Financial Formulas increased 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 purchasing an additional 871 shares in the last quarter. Finally, GK Wealth Management LLC purchased a new position in National Energy Services Reunited in the third quarter valued at approximately $88,000. 15.55% of the stock is owned by hedge funds and other institutional investors.
National Energy Services Reunited Company Profile
National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.
NESR’s services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.
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