National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 5.3% – Time to Sell?

Shares of National Energy Services Reunited (NASDAQ:NESR) dropped 5.3% on Monday. The company traded as low as $18.83 and last traded at $18.8950. Approximately 1,440,473 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 2,148,513 shares. The stock had previously closed at $19.96.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NESR shares. Barclays reduced their price objective on National Energy Services Reunited from $41.00 to $37.00 and set an “overweight” rating on the stock in a research report on Tuesday. Zacks Research lowered National Energy Services Reunited from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. UBS Group decreased their price objective on National Energy Services Reunited from $46.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on National Energy Services Reunited from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, Weiss Ratings raised shares of National Energy Services Reunited from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. Nine analysts have rated the stock with a Buy rating and one has assigned 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 a consensus target price of $39.12.

National Energy Services Reunited Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.22 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.23 and a beta of 0.57. The business’s 50 day moving average price is $25.97 and its 200-day moving average price is $25.55.

National Energy Services Reunited (NASDAQ:NESR) last announced its earnings results on Monday, November 9th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. National Energy Services Reunited had a return on equity of 14.35% and a net margin of 6.02%. The company had revenue of $504.73 million during the quarter, compared to the consensus estimate of $495.93 million. As a group, analysts forecast that National Energy Services Reunited will post 1.66 earnings per share for the current year.

National Energy Services Reunited Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 3rd. National Energy Services Reunited’s dividend payout ratio (DPR) is currently 9.35%.

Insider Buying and Selling

In related news, CEO Sherif Foda sold 100,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $35.00, for a total value 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 $107,962,505. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stefan Angeli sold 13,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $35.12, for a total value of $476,578.40. Following the completion of the sale, the chief financial officer owned 549,763 shares of the company’s stock, valued at $19,307,676.56. This trade represents a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 176,894 shares of company stock worth $6,221,414. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On National Energy Services Reunited

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in National Energy Services Reunited by 351.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,137 shares of the company’s stock worth $29,000 after purchasing an additional 885 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited during the 2nd quarter valued at about $45,000. USA Financial Formulas raised its position in shares of 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 buying an additional 871 shares in the last quarter. Sterling Capital Management LLC lifted its position in National Energy Services Reunited by 848.6% in the third quarter. Sterling Capital Management LLC now owns 2,049 shares of the company’s stock worth $52,000 after purchasing an additional 1,833 shares during the period. Finally, Allworth Financial LP increased its position in shares of National Energy Services Reunited by 51.0% during the 2nd quarter. Allworth Financial LP now owns 1,921 shares of the company’s stock valued at $57,000 after purchasing an additional 649 shares during the period. 15.55% of the stock is currently owned by institutional investors.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. (NESR) provides oilfield services to exploration and production companies. Its offerings support drilling, well construction and the production and maintenance of oil and gas wells. The company’s services include drilling and evaluation work, such as directional drilling and wireline services, as well as production services including well intervention, stimulation and artificial lift. Its work is designed to help customers develop and operate energy resources throughout the life of a well.