Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $6,338,871.58 in Stock

National Energy Services Reunited (NASDAQ:NESR) Director Yousif Mohammed Ali Al-Nowais sold 242,497 shares of National Energy Services Reunited stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $26.14, for a total value of $6,338,871.58. Following the sale, the director directly owned 4,013,359 shares in the company, valued at approximately $104,909,204.26. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, May 26th, Yousif Mohammed Ali Al-Nowais sold 457,391 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.12, for a total value of $11,947,052.92.
• On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.14, for a total value of $14,992,440.16.
• 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 Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.06, for a total value of $5,748,002.08.
• 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 Stock Performance

NESR opened at $24.35 on Friday. The business’s 50 day moving average is $23.82 and its 200-day moving average is $20.08. The stock has a market cap of $2.46 billion, a PE ratio of 37.46, a price-to-earnings-growth ratio of 0.32 and a beta of 0.38. The company has a current ratio of 1.04, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. National Energy Services Reunited has a twelve month low of $5.47 and a twelve month high of $27.25.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $370.87 million. The company’s revenue was up 33.5% on a year-over-year basis. On average, analysts predict that National Energy Services Reunited will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NESR. Zacks Research cut National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings raised National Energy Services Reunited from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. UBS Group boosted their target price on National Energy Services Reunited from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Barclays boosted their target price on National Energy Services Reunited from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.86.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NESR. Millennium Management LLC increased its holdings in shares of National Energy Services Reunited by 38.2% in the first quarter. Millennium Management LLC now owns 542,135 shares of the company’s stock valued at $3,990,000 after buying an additional 149,796 shares in the last quarter. Jane Street Group LLC bought a new position in shares of National Energy Services Reunited in the first quarter valued at $1,425,000. Acadian Asset Management LLC bought a new position in shares of National Energy Services Reunited in the first quarter valued at $48,000. Geode Capital Management LLC increased its holdings in shares of National Energy Services Reunited by 2,227.2% in the second quarter. Geode Capital Management LLC now owns 815,209 shares of the company’s stock valued at $4,908,000 after buying an additional 780,180 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of National Energy Services Reunited in the second quarter valued at $34,000. Institutional investors own 15.55% of the company’s stock.

About National Energy Services Reunited

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.