National Energy Services Reunited $NESR Shares Sold by Occam Crest Management LP

Key Points

• Occam Crest Management LP cut its stake in National Energy Services Reunited by 8.6% in the fourth quarter, but NESR remains its largest holding at about 11.5% of the portfolio.
• A director, Yousif Mohammed Ali Al-Nowais, sold 573,544 shares for about $15.0 million, and insiders have sold a total of 1.81 million shares over the past 90 days.
• Analysts remain upbeat on NESR: several firms raised price targets, and the stock carries a Moderate Buy consensus with a $28.86 average price target after the company beat quarterly earnings and revenue estimates.

Occam Crest Management LP lowered its position in shares of National Energy Services Reunited (NASDAQ:NESR - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,059,688 shares of the company's stock after selling 100,312 shares during the quarter. National Energy Services Reunited accounts for about 11.5% of Occam Crest Management LP's investment portfolio, making the stock its biggest holding. Occam Crest Management LP owned about 1.10% of National Energy Services Reunited worth $16,595,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State of Wyoming acquired a new position in National Energy Services Reunited during the fourth quarter valued at approximately $76,000. Clearstead Advisors LLC grew its holdings in National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company's stock valued at $77,000 after purchasing an additional 3,171 shares during the period. Legal & General Group Plc acquired a new position in National Energy Services Reunited during the second quarter valued at approximately $34,000. Acadian Asset Management LLC acquired a new position in National Energy Services Reunited during the first quarter valued at approximately $48,000. Finally, Cerity Partners LLC acquired a new position in National Energy Services Reunited during the fourth quarter valued at approximately $164,000. Institutional investors and hedge funds 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 company's stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 owned 4,255,856 shares in the company, valued at $111,248,075.84. This represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 1,808,154 shares of company stock valued at $47,410,676 in the last ninety days. 9.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of National Energy Services Reunited from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Monday, May 18th. UBS Group boosted their price objective on shares of National Energy Services Reunited from $31.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Barclays boosted their price objective on shares of National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. BTIG Research upped their price target on shares of National Energy Services Reunited from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.86.

National Energy Services Reunited Stock Down 1.5%

National Energy Services Reunited stock opened at $26.11 on Tuesday. The stock has a market capitalization of $2.63 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 0.34 and a beta of 0.35. National Energy Services Reunited has a twelve month low of $5.66 and a twelve month high of $27.69. The company has a quick ratio of 0.90, a current ratio of 1.04 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $24.53 and a 200-day moving average of $20.98.

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, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $404.59 million during the quarter, compared to analysts' expectations of $370.87 million. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The company's revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities research analysts anticipate that National Energy Services Reunited will post 1.68 EPS 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.

Want to see what other hedge funds are holding NESR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Energy Services Reunited (NASDAQ:NESR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.