NexTier Oilfield Solutions Inc. (NYSE:NEX) Receives Consensus Recommendation of “Buy” from Brokerages

NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.37.

Several research firms have recently commented on NEX. Morgan Stanley upped their target price on NexTier Oilfield Solutions from $8.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Stifel Nicolaus increased their price objective on NexTier Oilfield Solutions from $10.00 to $12.00 in a research report on Friday, April 8th. Piper Sandler increased their price objective on NexTier Oilfield Solutions from $9.50 to $11.60 and gave the company a “neutral” rating in a research report on Wednesday, April 13th. Susquehanna increased their price objective on NexTier Oilfield Solutions from $7.70 to $9.00 and gave the company a “neutral” rating in a research report on Friday, March 4th. Finally, StockNews.com began coverage on NexTier Oilfield Solutions in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In other news, insider Michael Joseph Mckie sold 124,987 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $8.66, for a total value of $1,082,387.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Carl Stewart sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $9.22, for a total value of $1,383,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,075,663 shares of company stock worth $9,487,666. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its position in NexTier Oilfield Solutions by 36.2% during the third quarter. Pzena Investment Management LLC now owns 13,135,360 shares of the company’s stock worth $60,423,000 after buying an additional 3,492,591 shares in the last quarter. Franklin Resources Inc. grew its position in NexTier Oilfield Solutions by 38.9% during the third quarter. Franklin Resources Inc. now owns 7,728,821 shares of the company’s stock worth $35,553,000 after buying an additional 2,162,976 shares in the last quarter. Russell Investments Group Ltd. grew its position in NexTier Oilfield Solutions by 33.1% during the fourth quarter. Russell Investments Group Ltd. now owns 7,335,585 shares of the company’s stock worth $26,039,000 after buying an additional 1,822,786 shares in the last quarter. Van ECK Associates Corp grew its position in NexTier Oilfield Solutions by 12.9% during the third quarter. Van ECK Associates Corp now owns 6,336,621 shares of the company’s stock worth $29,148,000 after buying an additional 725,878 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in NexTier Oilfield Solutions by 51.3% during the fourth quarter. Fisher Asset Management LLC now owns 4,453,330 shares of the company’s stock worth $15,809,000 after buying an additional 1,509,724 shares in the last quarter. 74.15% of the stock is currently owned by institutional investors and hedge funds.

NexTier Oilfield Solutions stock opened at $10.45 on Monday. NexTier Oilfield Solutions has a 52-week low of $3.06 and a 52-week high of $11.82. The stock has a fifty day simple moving average of $9.03. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -18.66 and a beta of 2.42. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.71.

NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last released its quarterly earnings results on Monday, February 21st. The company reported $0.05 earnings per share for the quarter, beating 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 business had revenue of $509.73 million during the quarter, compared to analyst estimates of $505.48 million. During the same period last year, the business earned ($0.32) EPS. Sell-side analysts forecast that NexTier Oilfield Solutions will post 0.41 earnings per share for the current fiscal year.

NexTier Oilfield Solutions Company Profile (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.

Featured Articles