National energy services CEO Sherif Foda sells $3.5m in shares

National Energy Services Reunited Corp. (NESR) CEO Sherif Foda sold 100,000 shares of the company's stock for $35 per share on August 31, 2026, totaling $3.5 million. This sale occurred as the stock price was nearing its 52-week high of $96.56. Following this transaction, Foda gifted 675,000 shares to his spouse at a price of $0.00 per share, which was then indirectly transferred to his spouse.

The company reported stronger-than-expected second-quarter 2026 results, with adjusted earnings of $0.44 per share on revenue of $520.8 million. This surpassed analysts' estimates of $0.3484 per share and $448.5 million in revenue, marking a 59.1% increase compared to the previous year and a 28.7% increase from the first quarter.

BTIG raised its price target for NESR shares to $40 from $32, maintaining a Buy rating, citing increased activity in Saudi Arabia.

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