Q1 2023 EPS Estimates for NexTier Oilfield Solutions Inc. Increased by Piper Sandler (NYSE:NEX)

NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) – Analysts at Piper Sandler upped their Q1 2023 earnings per share (EPS) estimates for shares of NexTier Oilfield Solutions in a research note issued on Wednesday, April 13th. Piper Sandler analyst I. Macpherson now expects that the company will post earnings of $0.14 per share for the quarter, up from their prior forecast of $0.13. Piper Sandler has a “Neutral” rating and a $11.60 price objective on the stock. Piper Sandler also issued estimates for NexTier Oilfield Solutions’ Q2 2023 earnings at $0.19 EPS and Q3 2023 earnings at $0.27 EPS.

Several other equities analysts have also weighed in on the stock. TheStreet upgraded shares of NexTier Oilfield Solutions from a “d+” rating to a “c” rating in a report on Tuesday, February 22nd. StockNews.com initiated coverage on shares of NexTier Oilfield Solutions in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Susquehanna Bancshares increased their price objective on shares of NexTier Oilfield Solutions from $7.70 to $9.00 and gave the company a “neutral” rating in a report on Friday, March 4th. Stifel Nicolaus upped their target price on shares of NexTier Oilfield Solutions from $10.00 to $12.00 in a research note on Friday, April 8th. Finally, Morgan Stanley upped their target price on shares of NexTier Oilfield Solutions from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.12.

Shares of NYSE NEX opened at $11.07 on Thursday. The company’s 50 day simple moving average is $8.54 and its 200 day simple moving average is $5.97. NexTier Oilfield Solutions has a fifty-two week low of $3.06 and a fifty-two week high of $11.27. The firm has a market capitalization of $2.70 billion, a P/E ratio of -19.77 and a beta of 2.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.08 and a quick ratio of 1.00.

NexTier Oilfield Solutions (NYSE:NEXGet Rating) last announced its earnings results on Monday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. NexTier Oilfield Solutions had a negative net margin of 8.39% and a negative return on equity of 23.16%. The company had revenue of $509.73 million for the quarter, compared to analyst estimates of $505.48 million. During the same period in the prior year, the business earned ($0.32) earnings per share.

In related news, insider Michael Joseph Mckie sold 124,987 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $8.66, for a total value of $1,082,387.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alamo Frac Holdings, Llc sold 454,600 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $8.55, for a total transaction of $3,886,830.00. The disclosure for this sale can be found here. Insiders have sold 1,075,663 shares of company stock valued at $9,487,666 in the last three months. 2.20% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd raised its stake in shares of NexTier Oilfield Solutions by 2,229.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 6,103 shares of the company’s stock worth $28,000 after purchasing an additional 5,841 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of NexTier Oilfield Solutions during the 4th quarter worth approximately $36,000. Mackenzie Financial Corp bought a new stake in shares of NexTier Oilfield Solutions during the 3rd quarter worth approximately $47,000. Cutler Group LP raised its stake in shares of NexTier Oilfield Solutions by 385.7% during the 1st quarter. Cutler Group LP now owns 7,237 shares of the company’s stock worth $66,000 after purchasing an additional 9,770 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in NexTier Oilfield Solutions by 338.2% in the 2nd quarter. Royal Bank of Canada now owns 14,833 shares of the company’s stock valued at $70,000 after acquiring an additional 11,448 shares during the period. 74.15% of the stock is currently owned by hedge funds and other institutional investors.

About NexTier Oilfield Solutions (Get Rating)

NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in various active and demanding basins. The company operates through two segments, Completion Services, and Well Construction and Intervention Services. The Completion Services segment offers hydraulic fracturing services to enhance production of oil and natural gas from formations with low permeability and restricted flow of hydrocarbons; wireline services; and perforating, pumpdown, pipe recovery, pressure pumping, and wellsite make-up and pressure testing services.

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