Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells $141,078.78 in Stock

Key Points

• NESR director Yousif Mohammed Ali Al-Nowais continued selling shares, including 5,526 shares on June 8 for about $141,079. He also sold additional shares on June 9, and has made several larger sales in recent weeks.
• The stock has been trading near its recent highs, closing at $23.53 after a modest decline. NESR remains well above its 52-week low of $5.66, with a 52-week high of $27.25.
• Fundamentals and analyst sentiment remain supportive, as the company beat quarterly EPS and revenue estimates and posted 33.5% year-over-year revenue growth. Analysts currently rate the stock a “Moderate Buy,” with an average target price of $28.86.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) Director Yousif Mohammed Ali Al-Nowais sold 5,526 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $25.53, for a total transaction of $141,078.78. Following the completion of the transaction, the director owned 3,550,442 shares in the company, valued at $90,642,784.26. This trade represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Yousif Mohammed Ali Al-Nowais also recently made the following trade(s):

• On Tuesday, June 9th, Yousif Mohammed Ali Al-Nowais sold 200 shares of National Energy Services Reunited stock. The stock was sold at an average price of $25.55, for a total transaction of $5,110.00.
• On Tuesday, May 26th, Yousif Mohammed Ali Al-Nowais sold 457,391 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.12, for a total transaction of $11,947,052.92.
• On Friday, May 22nd, Yousif Mohammed Ali Al-Nowais sold 242,497 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.14, for a total value of $6,338,871.58.
• On Wednesday, May 20th, Yousif Mohammed Ali Al-Nowais sold 573,544 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.14, for a total value of $14,992,440.16.
• On Tuesday, May 19th, Yousif Mohammed Ali Al-Nowais sold 3,500 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.13, for a total value of $91,455.00.
• On Monday, May 18th, Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.06, for a total value of $5,748,002.08.
• On Thursday, May 14th, Yousif Mohammed Ali Al-Nowais sold 81,302 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.35, for a total value of $2,142,307.70.
• On Wednesday, May 13th, Yousif Mohammed Ali Al-Nowais sold 223,626 shares of National Energy Services Reunited stock. The stock was sold at an average price of $26.85, for a total value of $6,004,358.10.

National Energy Services Reunited Price Performance

Shares of NASDAQ:NESR traded down $0.53 during trading on Wednesday, hitting $23.53. 1,529,632 shares of the company's stock were exchanged, compared to its average volume of 1,868,959. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.04 and a quick ratio of 0.90. National Energy Services Reunited has a 52-week low of $5.66 and a 52-week high of $27.25. The business's 50-day simple moving average is $24.25 and its 200 day simple moving average is $20.66. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 0.33 and a beta of 0.35.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $404.59 million during the quarter, compared to analysts' expectations of $370.87 million. The business's quarterly revenue was up 33.5% compared to the same quarter last year. As a group, equities analysts predict that National Energy Services Reunited will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on NESR shares. BTIG Research increased their price target on National Energy Services Reunited from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Wall Street Zen raised National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. UBS Group increased their price target on National Energy Services Reunited from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Barclays increased their price target on National Energy Services Reunited from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.86.

Hedge Funds Weigh In On National Energy Services Reunited

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of National Energy Services Reunited in the 3rd quarter valued at approximately $22,722,000. Boston Partners lifted its stake in shares of National Energy Services Reunited by 155.6% in the 4th quarter. Boston Partners now owns 1,953,328 shares of the company's stock valued at $30,594,000 after purchasing an additional 1,189,035 shares during the last quarter. Millennium Management LLC lifted its stake in shares of National Energy Services Reunited by 1,482.3% in the 4th quarter. Millennium Management LLC now owns 1,237,585 shares of the company's stock valued at $19,381,000 after purchasing an additional 1,159,372 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of National Energy Services Reunited by 103.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock valued at $42,088,000 after purchasing an additional 997,300 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of National Energy Services Reunited in the 1st quarter valued at approximately $19,045,000. 15.55% of the stock is owned by institutional investors.

About National Energy Services Reunited

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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