National Energy Services Reunited (NASDAQ:NESR) Stock Price Down 8.5% - Time to Sell?

Key Points

• NESR shares fell 8.5% to $19.84, trading well below their 50-day and 200-day moving averages. Trading volume was approximately 312,663 shares, down 85% from the average.
• Despite the decline, analysts maintain a generally positive outlook: eight analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $40.38.
• The company recently exceeded quarterly expectations, reporting $0.44 in EPS versus $0.35 expected and $520.75 million in revenue, up 59.1% year over year. However, insiders sold 176,894 shares worth about $6.2 million over the past 90 days.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) was down 8.5% during trading on Thursday. The company traded as low as $20.21 and last traded at $19.84. Approximately 312,663 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,128,526 shares. The stock had previously closed at $21.69.

Analysts Set New Price Targets

NESR has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of National Energy Services Reunited in a report on Thursday, October 1st. They issued an "outperform" rating and a $39.00 target price for the company. Barclays lowered their price target on National Energy Services Reunited from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Thursday, October 15th. Weiss Ratings cut National Energy Services Reunited from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 14th. National Bank Financial set a $44.00 price objective on National Energy Services Reunited in a research report on Wednesday, September 30th. Finally, UBS Group lowered their target price on National Energy Services Reunited from $47.00 to $46.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.38.

National Energy Services Reunited Trading Down 9.6%

The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $29.85 and its 200 day moving average is $27.41. The stock has a market cap of $1.98 billion, a PE ratio of 21.32, a P/E/G ratio of 0.25 and a beta of 0.48.

National Energy Services Reunited (NASDAQ:NESR - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The company had revenue of $520.75 million during the quarter, compared to the consensus estimate of $448.54 million. National Energy Services Reunited had a net margin of 5.77% and a return on equity of 12.07%. National Energy Services Reunited's revenue was up 59.1% on a year-over-year basis. As a group, analysts predict that National Energy Services Reunited will post 1.65 earnings per share for the current year.

Insider Activity

In other news, CEO Sherif Foda sold 100,000 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $35.00, for a total value of $3,500,000.00. Following the completion of the transaction, the chief executive officer owned 3,084,643 shares in the company, valued at $107,962,505. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stefan Angeli sold 13,570 shares of National Energy Services Reunited stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $35.12, for a total value of $476,578.40. Following the transaction, the chief financial officer directly owned 549,763 shares of the company's stock, valued at $19,307,676.56. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 176,894 shares of company stock worth $6,221,414 over the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Energy Services Reunited

Several hedge funds have recently added to or reduced their stakes in NESR. Dimensional Fund Advisors LP raised its position in National Energy Services Reunited by 103.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,960,587 shares of the company's stock worth $42,088,000 after acquiring an additional 997,300 shares during the last quarter. Walleye Capital LLC purchased a new stake in National Energy Services Reunited in the 1st quarter valued at approximately $19,045,000. Arrowstreet Capital Limited Partnership increased its position in National Energy Services Reunited by 75.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 846,597 shares of the company's stock worth $18,176,000 after buying an additional 365,217 shares in the last quarter. Squarepoint Ops LLC increased its position in National Energy Services Reunited by 39.2% during the second quarter. Squarepoint Ops LLC now owns 476,608 shares of the company's stock worth $14,265,000 after buying an additional 134,316 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of National Energy Services Reunited by 21.4% in the first quarter. Bank of America Corp DE now owns 597,400 shares of the company's stock worth $12,826,000 after acquiring an additional 105,205 shares during the last quarter. 15.55% of the stock is currently owned by hedge funds and other institutional investors.

About National Energy Services Reunited

National Energy Services Reunited Corp. (NESR) is an oilfield services company that provides equipment, technology and technical services to exploration and production companies. Its operations support the drilling, completion, production and maintenance of oil and natural gas wells.

NESR's services are organized primarily around well services and drilling and evaluation. Offerings have included hydraulic fracturing and stimulation, cementing, coiled tubing, well testing, completion services, artificial lift, drilling fluids, directional drilling, wireline, logging and well-inspection services.

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