StockNews.com Begins Coverage on NexTier Oilfield Solutions (NYSE:NEX)

Posted by Defense World Staff on Jul 21st, 2023

Analysts at StockNews.com initiated coverage on shares of NexTier Oilfield Solutions (NYSE:NEX – Get Free Report) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.

NEX has been the topic of several other reports. Bank of America downgraded shares of NexTier Oilfield Solutions from a “neutral” rating to an “underperform” rating and set a $8.50 price objective on the stock. in a research report on Tuesday, April 18th. Piper Sandler dropped their target price on NexTier Oilfield Solutions from $14.00 to $13.00 in a research report on Monday, May 1st. Stifel Nicolaus lowered their target price on shares of NexTier Oilfield Solutions from $18.00 to $16.00 in a research note on Wednesday, July 12th. Barclays decreased their price objective on shares of NexTier Oilfield Solutions from $18.00 to $13.00 in a research note on Thursday, June 8th. Finally, Susquehanna dropped their target price on NexTier Oilfield Solutions from $8.00 to $7.00 in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NexTier Oilfield Solutions has an average rating of “Moderate Buy” and a consensus target price of $12.81.

NexTier Oilfield Solutions Stock Down 3.8 %

NEX opened at $11.02 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $2.54 billion, a P/E ratio of 4.79, a PEG ratio of 1.84 and a beta of 2.09. The company’s 50-day moving average is $8.88 and its 200 day moving average is $8.77. NexTier Oilfield Solutions has a fifty-two week low of $6.66 and a fifty-two week high of $11.50.

NexTier Oilfield Solutions (NYSE:NEX – Get Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $935.67 million during the quarter, compared to analyst estimates of $926.41 million. NexTier Oilfield Solutions had a return on equity of 63.92% and a net margin of 15.80%. Research analysts expect that NexTier Oilfield Solutions will post 2.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NexTier Oilfield Solutions news, CAO Oladipo Iluyomade sold 2,491 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $11.00, for a total transaction of $27,401.00. Following the completion of the sale, the chief accounting officer now directly owns 9,056 shares in the company, valued at $99,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NexTier Oilfield Solutions

A number of hedge funds have recently bought and sold shares of the company. Xponance Inc. lifted its holdings in NexTier Oilfield Solutions by 12.0% during the second quarter. Xponance Inc. now owns 11,260 shares of the company’s stock worth $101,000 after acquiring an additional 1,210 shares during the period. Captrust Financial Advisors increased its stake in NexTier Oilfield Solutions by 42.9% in the second quarter. Captrust Financial Advisors now owns 4,066 shares of the company’s stock valued at $39,000 after acquiring an additional 1,221 shares during the last quarter. Eagle Bay Advisors LLC grew its position in NexTier Oilfield Solutions by 15.9% during the fourth quarter. Eagle Bay Advisors LLC now owns 9,498 shares of the company’s stock valued at $88,000 after acquiring an additional 1,301 shares during the last quarter. Arizona State Retirement System lifted its stake in NexTier Oilfield Solutions by 3.3% in the first quarter. Arizona State Retirement System now owns 56,914 shares of the company’s stock worth $452,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Dakota Wealth Management boosted its holdings in NexTier Oilfield Solutions by 10.8% during the 1st quarter. Dakota Wealth Management now owns 18,514 shares of the company’s stock valued at $147,000 after acquiring an additional 1,808 shares during the period.

NexTier Oilfield Solutions Company Profile

(Get Free Report)

NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in various active and demanding basins. The company operates in 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.