Nuveen Asset Management LLC reduced its stake in NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,641,349 shares of the company’s stock after selling 84,795 shares during the period. Nuveen Asset Management LLC owned approximately 1.08% of NexTier Oilfield Solutions worth $19,546,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Kestra Advisory Services LLC increased its holdings in NexTier Oilfield Solutions by 6.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,285 shares of the company’s stock valued at $128,000 after acquiring an additional 1,070 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of NexTier Oilfield Solutions by 42.9% in the 2nd quarter. Captrust Financial Advisors now owns 4,066 shares of the company’s stock worth $39,000 after buying an additional 1,221 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of NexTier Oilfield Solutions by 7.9% in the 1st quarter. Hsbc Holdings PLC now owns 25,090 shares of the company’s stock worth $235,000 after buying an additional 1,831 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of NexTier Oilfield Solutions by 13.9% in the 2nd quarter. Prudential Financial Inc. now owns 15,926 shares of the company’s stock worth $151,000 after buying an additional 1,940 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of NexTier Oilfield Solutions by 11.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,812 shares of the company’s stock worth $198,000 after buying an additional 2,112 shares during the last quarter. 76.09% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of NexTier Oilfield Solutions from a “buy” rating to a “strong-buy” rating in a report on Friday, February 17th. Raymond James began coverage on shares of NexTier Oilfield Solutions in a report on Friday, December 9th. They set a “strong-buy” rating and a $19.00 price target on the stock. Citigroup upped their price target on shares of NexTier Oilfield Solutions from $12.00 to $12.50 and gave the company a “buy” rating in a report on Friday, February 17th. Morgan Stanley cut their price target on shares of NexTier Oilfield Solutions from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 4th. Finally, Susquehanna cut their price target on shares of NexTier Oilfield Solutions from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, February 17th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.59.
NexTier Oilfield Solutions Price Performance
NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.13. NexTier Oilfield Solutions had a net margin of 9.71% and a return on equity of 53.82%. The firm had revenue of $870.86 million during the quarter, compared to analysts’ expectations of $871.20 million. On average, research analysts forecast that NexTier Oilfield Solutions Inc. will post 2.48 earnings per share for the current year.
NexTier Oilfield Solutions Profile
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.
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