National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 7% - Should You Sell?

Key Points

• NESR shares fell 7% to about $29.90, with trading volume below the stock’s average daily level. The company has a $3.0 billion market capitalization and trades above its 200-day moving average.
• Analysts remain bullish, with a consensus “Buy” rating from nine analysts and an average price target of $33.86; recent targets range as high as $47.
• NESR exceeded quarterly expectations, reporting $0.44 in EPS versus a $0.35 estimate and 59.1% year-over-year revenue growth. However, insiders sold 176,894 shares worth approximately $6.2 million over the past 90 days.

Shares of National Energy Services Reunited (NASDAQ:NESR - Get Free Report) traded down 7% during mid-day trading on Monday. The stock traded as low as $30.20 and last traded at $29.8950. 1,077,679 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,974,233 shares. The stock had previously closed at $32.13.

Wall Street Analysts Forecast Growth

NESR has been the topic of several analyst reports. Weiss Ratings raised National Energy Services Reunited from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, September 11th. Barclays upped their price objective on National Energy Services Reunited from $35.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Piper Sandler raised their price objective on shares of National Energy Services Reunited from $33.00 to $35.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. BTIG Research boosted their target price on shares of National Energy Services Reunited from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, UBS Group reissued a "buy" rating and set a $47.00 price target on shares of National Energy Services Reunited in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, National Energy Services Reunited presently has a consensus rating of "Buy" and a consensus target price of $33.86.

National Energy Services Reunited Trading Down 7.3%

The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 0.29 and a beta of 0.39. The company's 50-day moving average price is $32.03 and its 200-day moving average price is $27.19. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.09. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. The firm had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. The business's revenue for the quarter was up 59.1% on a year-over-year basis. Equities analysts expect that National Energy Services Reunited will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling at National Energy Services Reunited

In other news, Director Mejia Antonio J. Campo sold 63,324 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $35.45, for a total value of $2,244,835.80. Following the completion of the sale, the director directly owned 696,398 shares in the company, valued at $24,687,309.10. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stefan Angeli sold 13,570 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total transaction of $476,578.40. Following the completion of the transaction, the chief financial officer directly owned 549,763 shares in the company, valued at approximately $19,307,676.56. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 176,894 shares of company stock worth $6,221,414. Corporate insiders own 9.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of National Energy Services Reunited by 51.0% in the second 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. ProShare Advisors LLC raised its stake in National Energy Services Reunited by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,148 shares of the company's stock worth $175,000 after purchasing an additional 719 shares during the period. USA Financial Formulas raised its stake in National Energy Services Reunited by 63.0% during the first quarter. USA Financial Formulas now owns 2,253 shares of the company's stock worth $48,000 after purchasing an additional 871 shares during the period. Integrated Wealth Concepts LLC acquired a new position in National Energy Services Reunited in the 2nd quarter valued at about $45,000. Finally, Lazard Asset Management LLC grew its stake in shares of National Energy Services Reunited by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 120,408 shares of the company's stock valued at $2,585,000 after buying an additional 2,630 shares during the period. 15.55% of the stock is owned by hedge funds and other institutional investors.

National Energy Services Reunited Company Profile

National Energy Services Reunited Corp. is an oilfield services company that provides equipment, technologies and technical support to energy producers and drilling contractors. Its activities are primarily focused on the Middle East, North Africa and South Asia.

The company operates through two broad business areas: drilling and evaluation, and well services. Its offerings include drilling services, wireline and logging, well testing, cementing, coiled tubing, hydraulic fracturing, stimulation, artificial lift, completion services and production enhancement.

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