NexTier Oilfield Solutions Inc. (NYSE:NEX) Given Consensus Rating of “Moderate Buy” by Analysts

NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $13.73.

Several research analysts have recently weighed in on NEX shares. Raymond James started coverage on shares of NexTier Oilfield Solutions in a research note on Friday, December 9th. They issued a “strong-buy” rating and a $19.00 target price for the company. TheStreet upgraded shares of NexTier Oilfield Solutions from a “c” rating to a “b-” rating in a research note on Friday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective on shares of NexTier Oilfield Solutions in a research note on Friday, October 7th. Barclays increased their price objective on shares of NexTier Oilfield Solutions from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. Finally, Morgan Stanley reduced their price objective on shares of NexTier Oilfield Solutions from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 4th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NEX. FMR LLC lifted its position in shares of NexTier Oilfield Solutions by 67.2% in the 2nd quarter. FMR LLC now owns 10,792,691 shares of the company’s stock worth $102,639,000 after buying an additional 4,336,990 shares during the last quarter. Millennium Management LLC increased its holdings in shares of NexTier Oilfield Solutions by 477.8% in the 2nd quarter. Millennium Management LLC now owns 2,440,344 shares of the company’s stock worth $23,208,000 after acquiring an additional 2,017,979 shares during the period. Principal Financial Group Inc. increased its holdings in shares of NexTier Oilfield Solutions by 12,221.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,942,432 shares of the company’s stock worth $18,472,000 after acquiring an additional 1,926,668 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of NexTier Oilfield Solutions by 266.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,401,437 shares of the company’s stock worth $22,189,000 after acquiring an additional 1,745,628 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of NexTier Oilfield Solutions by 99.0% in the 1st quarter. Invesco Ltd. now owns 3,041,152 shares of the company’s stock worth $28,100,000 after acquiring an additional 1,513,097 shares during the period. 76.09% of the stock is currently owned by institutional investors.

NexTier Oilfield Solutions Price Performance

Shares of NEX stock opened at $8.87 on Wednesday. The company has a market capitalization of $2.18 billion, a PE ratio of 11.52 and a beta of 2.06. The firm has a fifty day simple moving average of $9.49 and a 200-day simple moving average of $9.30. The company has a current ratio of 1.30, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. NexTier Oilfield Solutions has a twelve month low of $5.11 and a twelve month high of $12.50.

NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last announced its earnings results on Tuesday, October 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. The business had revenue of $896.01 million during the quarter, compared to the consensus estimate of $921.72 million. NexTier Oilfield Solutions had a net margin of 6.69% and a return on equity of 38.98%. Equities research analysts anticipate that NexTier Oilfield Solutions will post 1.33 earnings per share for the current fiscal year.

About NexTier Oilfield Solutions

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NexTier Oilfield Solutions, Incis an oilfield service company. It offers completion solutions, hydraulic fracturing, wire line, pump down, coiled tubing, cementing, rig services, special services, and fluids management services. The company operates through the following segments: Completion Services, Well Construction and Intervention Services, and Well Support Services.