Mejia Antonio Campo Sells 63,324 Shares of National Energy Services Reunited (NASDAQ:NESR) Stock

National Energy Services Reunited (NASDAQ:NESR) 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 sale, the director directly owned 696,398 shares in the company, valued at $24,687,309.10. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $33.54 on Friday. The company has a fifty day moving average price of $31.17 and a two-hundred day moving average price of $26.57. National Energy Services Reunited has a one year low of $9.92 and a one year high of $36.94. The stock has a market cap of $3.38 billion, a P/E ratio of 36.46, a P/E/G 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) last released its quarterly earnings data on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. The company had revenue of $520.75 million for the quarter, compared to analyst estimates of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm’s quarterly revenue was up 59.1% compared to the same quarter last year. As a group, equities analysts predict that National Energy Services Reunited will post 1.82 EPS for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Several hedge funds have recently bought and sold shares of NESR. Royal Bank of Canada increased its stake in shares of National Energy Services Reunited by 373.8% during the fourth quarter. Royal Bank of Canada now owns 1,900 shares of the company’s stock worth $30,000 after purchasing an additional 1,499 shares during the period. Legal & General Group Plc bought a new stake in National Energy Services Reunited in the 2nd quarter valued at $34,000. Integrated Wealth Concepts LLC bought a new stake in National Energy Services Reunited in the 2nd quarter valued at $45,000. USA Financial Formulas boosted its stake in National Energy Services Reunited by 63.0% in the 1st quarter. USA Financial Formulas now owns 2,253 shares of the company’s stock valued at $48,000 after purchasing an additional 871 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in National Energy Services Reunited in the 1st quarter valued at $48,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NESR has been the topic of several research analyst reports. UBS Group upped their price objective on National Energy Services Reunited from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. BTIG Research lifted their target price on 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. Weiss Ratings raised National Energy Services Reunited from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Citigroup restated a “buy” rating on shares of National Energy Services Reunited in a research note on Monday, August 10th. Finally, Wall Street Zen raised National Energy Services Reunited from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.57.

About National Energy Services Reunited

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.