Kazazian Asset Management LLC Cuts Position in National Energy Services Reunited $NESR

Key Points

• Kazazian Asset Management cut its National Energy Services Reunited stake by 54.8% in the fourth quarter, leaving it with 65,000 shares worth about $1.02 million.
• Insider selling was notable: Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares for about $15.0 million, and insiders sold 1.10 million shares over the last 90 days.
• Analysts remain broadly constructive on NESR, with seven Buy ratings and two Hold ratings, a consensus “Moderate Buy,” and an average target price of $28.86. The company also beat quarterly EPS and revenue expectations, with revenue up 33.5% year over year.

Kazazian Asset Management LLC decreased its holdings in National Energy Services Reunited (NASDAQ:NESR - Free Report) by 54.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,000 shares of the company's stock after selling 78,650 shares during the quarter. National Energy Services Reunited comprises approximately 1.1% of Kazazian Asset Management LLC's portfolio, making the stock its 19th biggest holding. Kazazian Asset Management LLC owned about 0.07% of National Energy Services Reunited worth $1,018,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NESR. State of Alaska Department of Revenue purchased a new position in National Energy Services Reunited in the third quarter worth $34,000. Legal & General Group Plc purchased a new position in National Energy Services Reunited in the second quarter worth $34,000. Acadian Asset Management LLC purchased a new position in National Energy Services Reunited in the first quarter worth $48,000. Osaic Holdings Inc. acquired a new position in National Energy Services Reunited during the second quarter worth $73,000. Finally, BNP Paribas Financial Markets raised its holdings in National Energy Services Reunited by 92.6% during the second quarter. BNP Paribas Financial Markets now owns 17,339 shares of the company's stock worth $104,000 after purchasing an additional 8,337 shares during the last quarter. Hedge funds and other institutional investors own 15.55% of the company's stock.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Yousif Mohammed Ali Al-Nowais sold 573,544 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $26.14, for a total value of $14,992,440.16. Following the completion of the transaction, the director directly owned 4,255,856 shares of the company's stock, valued at $111,248,075.84. The trade was a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 1,102,540 shares of company stock valued at $28,978,563 over the last ninety days. Insiders own 9.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays lifted their price objective 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. UBS Group lifted their price objective 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. Piper Sandler lifted their price objective on National Energy Services Reunited from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Zacks Research cut National Energy Services Reunited from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. 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. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, National Energy Services Reunited has a consensus rating of "Moderate Buy" and a consensus target price of $28.86.

National Energy Services Reunited Stock Performance

Shares of NESR stock opened at $25.76 on Monday. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $27.25. The stock has a market cap of $2.60 billion, a PE ratio of 39.63, a P/E/G ratio of 0.33 and a beta of 0.38. The stock has a fifty day moving average price of $23.32 and a 200 day moving average price of $19.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 1.04.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $404.59 million during the quarter, compared to analysts' expectations of $370.87 million. National Energy Services Reunited's revenue for the quarter was up 33.5% on a year-over-year basis. Sell-side analysts forecast that National Energy Services Reunited will post 1.64 earnings per share for the current fiscal year.

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.

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