Insider Selling: National Energy Services Reunited (NASDAQ:NESR) Director Sells 220,568 Shares of Stock

Key Points

• Director Yousif Mohammed Ali Al-Nowais sold 220,568 shares of National Energy Services Reunited (NASDAQ:NESR) on May 18 at an average price of $26.06, totaling about $5.75 million. The sale reduced his ownership by 4.36%.
• NESR shares rose 2.7% to $26.10 amid heavier-than-usual trading volume. The stock has climbed near its 52-week high of $27.25 and remains well above its 50-day and 200-day moving averages.
• The company reported stronger-than-expected quarterly results, with EPS of $0.26 versus estimates of $0.21 and revenue of $404.59 million, up 33.5% year over year. Analysts currently rate the stock a consensus “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 220,568 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $26.06, for a total transaction of $5,748,002.08. Following the completion of the transaction, the director owned 4,832,900 shares in the company, valued at approximately $125,945,374. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 19th, Yousif Mohammed Ali Al-Nowais sold 3,500 shares of National Energy Services Reunited stock. The shares were sold at an average price of $26.13, for a total transaction of $91,455.00.
• 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 transaction 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 transaction of $6,004,358.10.

National Energy Services Reunited Trading Up 2.7%

Shares of NESR stock traded up $0.69 during trading hours on Wednesday, hitting $26.10. 3,477,411 shares of the company were exchanged, compared to its average volume of 1,916,220. The firm has a market cap of $2.63 billion, a PE ratio of 40.15, a PEG ratio of 0.35 and a beta of 0.38. National Energy Services Reunited has a 1 year low of $5.47 and a 1 year high of $27.25. 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 firm has a fifty day moving average of $23.00 and a 200 day moving average of $19.41.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.21 by $0.05. National Energy Services Reunited had a net margin of 4.53% and a return on equity of 9.77%. The firm had revenue of $404.59 million for the quarter, compared to analyst estimates of $370.87 million. The company's revenue was up 33.5% compared to the same quarter last year. Analysts expect that National Energy Services Reunited will post 1.61 earnings per share for the current year.

Institutional Investors Weigh In On National Energy Services Reunited

Several institutional investors have recently made changes to their positions in NESR. Royal Bank of Canada lifted its holdings 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 buying an additional 1,499 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of National Energy Services Reunited during the third quarter worth approximately $34,000. State of Wyoming acquired a new position in shares of National Energy Services Reunited during the fourth quarter worth approximately $76,000. Clearstead Advisors LLC lifted its holdings in shares of National Energy Services Reunited by 180.1% during the fourth quarter. Clearstead Advisors LLC now owns 4,932 shares of the company's stock worth $77,000 after buying an additional 3,171 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of National Energy Services Reunited during the second quarter worth approximately $34,000. 15.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays raised their target price 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. Piper Sandler lifted 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 research note on Monday. Weiss Ratings upgraded shares of National Energy Services Reunited from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. UBS Group upped their target price on National Energy Services Reunited from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of National Energy Services Reunited from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, National Energy Services Reunited currently has a consensus rating of "Moderate Buy" and an average target price of $28.86.

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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