Insider Selling: National Energy Services Reunited (NASDAQ:NESR) CEO Sells $3,500,000.00 in Stock

National Energy Services Reunited (NASDAQ:NESR) 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 sale, the chief executive officer directly owned 3,084,643 shares of the company’s stock, valued at approximately $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

National Energy Services Reunited Stock Up 0.1%

Shares of NASDAQ NESR traded up $0.02 during trading on Wednesday, hitting $34.74. 1,087,093 shares of the company traded hands, compared to its average volume of 2,198,393. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.02. The business’s fifty day moving average is $30.33 and its 200 day moving average is $26.04. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 37.76, a P/E/G ratio of 0.33 and a beta of 0.39. National Energy Services Reunited has a fifty-two week low of $9.15 and a fifty-two week high of $36.94.

National Energy Services Reunited (NASDAQ:NESR) last released its earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a return on equity of 12.07% and a net margin of 5.77%.The company had revenue of $520.75 million during the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited’s quarterly revenue was up 59.1% on a year-over-year basis. Equities research analysts predict that National Energy Services Reunited will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NESR has been the subject of a number of recent research reports. Zacks Research upgraded National Energy Services Reunited from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. BTIG Research lifted their target price on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barclays raised their price objective on shares of National Energy Services Reunited from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of National Energy Services Reunited from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.57.

Institutional Trading of National Energy Services Reunited

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake 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 worth $30,000 after acquiring an additional 1,499 shares during the period. USA Financial Formulas boosted its holdings in National Energy Services Reunited by 63.0% in the first quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock worth $48,000 after purchasing an additional 871 shares during the last quarter. State of Wyoming bought a new stake in National Energy Services Reunited in the 4th quarter worth approximately $76,000. Clearstead Advisors LLC raised its stake in National Energy Services Reunited by 180.1% during the 4th quarter. Clearstead Advisors LLC now owns 4,932 shares of the company’s stock valued at $77,000 after buying an additional 3,171 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in National Energy Services Reunited during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 15.55% of the company’s stock.

National Energy Services Reunited Company Profile

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.