NexTier Oilfield Solutions Inc. (NYSE:NEX) Short Interest Update

NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 3,670,000 shares, a decline of 25.1% from the April 30th total of 4,900,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 3,520,000 shares, the days-to-cover ratio is currently 1.0 days.

In other news, Director James Carl Stewart sold 150,000 shares of the stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $9.22, for a total transaction of $1,383,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kenneth Pucheu sold 23,500 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $11.02, for a total value of $258,970.00. Following the completion of the transaction, the chief financial officer now owns 134,544 shares in the company, valued at approximately $1,482,674.88. The disclosure for this sale can be found here. Insiders sold 8,125,853 shares of company stock worth $85,640,226 over the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of NEX. Vanguard Group Inc. boosted its position in NexTier Oilfield Solutions by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 19,679,910 shares of the company’s stock worth $181,842,000 after buying an additional 1,155,116 shares during the period. Van ECK Associates Corp grew its stake in shares of NexTier Oilfield Solutions by 87.2% in the first quarter. Van ECK Associates Corp now owns 8,019,096 shares of the company’s stock worth $74,096,000 after purchasing an additional 3,735,488 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of NexTier Oilfield Solutions by 38.9% in the third quarter. Franklin Resources Inc. now owns 7,728,821 shares of the company’s stock worth $35,553,000 after purchasing an additional 2,162,976 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in NexTier Oilfield Solutions by 33.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,335,585 shares of the company’s stock valued at $26,039,000 after purchasing an additional 1,822,786 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in NexTier Oilfield Solutions by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,267,371 shares of the company’s stock valued at $57,911,000 after purchasing an additional 802,845 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

Several equities analysts have commented on NEX shares. Piper Sandler raised their target price on shares of NexTier Oilfield Solutions from $9.50 to $11.60 and gave the company a “neutral” rating in a report on Wednesday, April 13th. StockNews.com assumed coverage on shares of NexTier Oilfield Solutions in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley upped their target price on NexTier Oilfield Solutions from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Stifel Nicolaus lifted their price target on NexTier Oilfield Solutions from $10.00 to $12.00 in a research note on Friday, April 8th. Finally, Susquehanna upped their price objective on NexTier Oilfield Solutions from $7.70 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, March 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NexTier Oilfield Solutions presently has an average rating of “Buy” and an average target price of $11.84.

Shares of NEX traded up $0.08 during trading hours on Monday, reaching $11.12. The stock had a trading volume of 176,494 shares, compared to its average volume of 3,523,333. NexTier Oilfield Solutions has a 12 month low of $3.06 and a 12 month high of $11.82. The stock has a market capitalization of $2.71 billion, a PE ratio of -41.18 and a beta of 2.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.09. The company’s 50-day moving average is $10.27 and its two-hundred day moving average is $7.27.

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.

Read More

Receive News & Ratings for NexTier Oilfield Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexTier Oilfield Solutions and related companies with MarketBeat.com's FREE daily email newsletter.