American Century Companies Inc. raised its holdings in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX – Free Report) by 86.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,779,131 shares of the company’s stock after purchasing an additional 822,383 shares during the period. American Century Companies Inc. owned approximately 0.77% of NexTier Oilfield Solutions worth $14,144,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of NexTier Oilfield Solutions by 152.9% during the first quarter. Envestnet Asset Management Inc. now owns 82,256 shares of the company’s stock valued at $654,000 after buying an additional 49,725 shares during the last quarter. Rhumbline Advisers grew its stake in shares of NexTier Oilfield Solutions by 98.4% in the first quarter. Rhumbline Advisers now owns 531,308 shares of the company’s stock worth $4,224,000 after acquiring an additional 263,490 shares during the period. Citigroup Inc. grew its stake in shares of NexTier Oilfield Solutions by 305.3% in the first quarter. Citigroup Inc. now owns 136,903 shares of the company’s stock worth $1,088,000 after acquiring an additional 103,122 shares during the period. Guggenheim Capital LLC purchased a new position in shares of NexTier Oilfield Solutions during the first quarter valued at approximately $954,000. Finally, Capula Management Ltd bought a new position in NexTier Oilfield Solutions during the first quarter valued at approximately $462,000. Institutional investors own 92.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on NEX. StockNews.com assumed coverage on shares of NexTier Oilfield Solutions in a research note on Wednesday. They set a “buy” rating for the company. Barclays dropped their target price on NexTier Oilfield Solutions from $18.00 to $13.00 in a research report on Thursday, June 8th. Stifel Nicolaus reduced their price target on shares of NexTier Oilfield Solutions from $18.00 to $16.00 in a research report on Wednesday, July 12th. Citigroup increased their price objective on shares of NexTier Oilfield Solutions from $9.75 to $11.30 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. Finally, Susquehanna cut their target price on shares of NexTier Oilfield Solutions from $8.00 to $7.00 in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.48.
NexTier Oilfield Solutions Trading Up 0.8 %
NexTier Oilfield Solutions stock opened at $10.69 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.32. NexTier Oilfield Solutions Inc. has a 12-month low of $6.66 and a 12-month high of $11.99. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 4.00, a P/E/G ratio of 1.94 and a beta of 2.13. The firm has a 50 day moving average of $10.68 and a 200 day moving average of $9.20.
NexTier Oilfield Solutions (NYSE:NEX – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. NexTier Oilfield Solutions had a net margin of 17.59% and a return on equity of 61.01%. The firm had revenue of $945.09 million for the quarter, compared to the consensus estimate of $948.66 million. As a group, research analysts predict that NexTier Oilfield Solutions Inc. will post 2.16 earnings per share for the current year.
Insider Buying and Selling at NexTier Oilfield Solutions
In other news, CEO Robert Wayne Drummond, Jr. sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $11.69, for a total value of $2,922,500.00. Following the completion of the transaction, the chief executive officer now owns 1,528,252 shares of the company’s stock, valued at $17,865,265.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Robert Wayne Drummond, Jr. sold 250,000 shares of NexTier Oilfield Solutions stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $11.69, for a total transaction of $2,922,500.00. Following the sale, the chief executive officer now owns 1,528,252 shares in the company, valued at $17,865,265.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin M. Mcdonald sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $11.70, for a total transaction of $1,170,000.00. Following the transaction, the executive vice president now owns 329,560 shares of the company’s stock, valued at approximately $3,855,852. The disclosure for this sale can be found here. Insiders have sold a total of 481,491 shares of company stock valued at $5,610,901 over the last ninety days. 2.50% of the stock is currently owned by company insiders.
NexTier Oilfield Solutions Company Profile
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.
Featured Stories
- Five stocks we like better than NexTier Oilfield Solutions
- How and Why to Invest in Oil Stocks
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- What is a Secondary Public Offering? What Investors Need to Know
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
- Compound Interest and Why It Matters When Investing
- 5 Critical Takeaways From MongoDB’s Q2 Results for AI Investors
Want to see what other hedge funds are holding NEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NexTier Oilfield Solutions Inc. (NYSE:NEX – Free Report).
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.
