NexTier Oilfield Solutions (NYSE:NEX) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of NexTier Oilfield Solutions (NYSE:NEX) in a research report sent to investors on Friday. The brokerage issued a buy rating on the stock.

NEX has been the topic of several other research reports. Barclays dropped their target price on NexTier Oilfield Solutions from $18.00 to $13.00 in a report on Thursday, June 8th. Stifel Nicolaus decreased their price objective on shares of NexTier Oilfield Solutions from $18.00 to $16.00 in a research note on Wednesday, July 12th. Citigroup upped their price objective on shares of NexTier Oilfield Solutions from $9.75 to $11.30 and gave the company a neutral rating in a research note on Tuesday, July 18th. Finally, Susquehanna decreased their price objective on shares of NexTier Oilfield Solutions from $8.00 to $7.00 in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $12.48.

NexTier Oilfield Solutions Stock Performance

NYSE:NEX opened at $10.69 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of 4.00, a price-to-earnings-growth ratio of 1.94 and a beta of 2.13. The business’s fifty day moving average price is $11.00 and its 200 day moving average price is $9.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.26. NexTier Oilfield Solutions has a 12 month low of $6.66 and a 12 month high of $11.99.

NexTier Oilfield Solutions (NYSE:NEX) last posted its earnings results on Tuesday, July 25th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $945.09 million for the quarter, compared to analyst estimates of $948.66 million. NexTier Oilfield Solutions had a return on equity of 61.01% and a net margin of 17.59%. On average, sell-side analysts anticipate that NexTier Oilfield Solutions will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at NexTier Oilfield Solutions

In other news, CAO Oladipo Iluyomade sold 2,491 shares of the stock in a transaction dated 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 owns 9,056 shares in the company, valued at $99,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Oladipo Iluyomade sold 2,491 shares of the stock in a transaction dated 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 owns 9,056 shares in the company, valued at $99,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin M. Mcdonald sold 100,000 shares of the stock in a transaction dated 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 sale, 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. Over the last quarter, insiders sold 481,491 shares of company stock worth $5,610,901. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On NexTier Oilfield Solutions

A number of hedge funds have recently added to or reduced their stakes in NEX. Envestnet Asset Management Inc. acquired a new stake in NexTier Oilfield Solutions in the first quarter valued at about $173,000. Raymond James Financial Services Advisors Inc. acquired a new stake in NexTier Oilfield Solutions in the first quarter valued at about $196,000. Bank of New York Mellon Corp lifted its position in NexTier Oilfield Solutions by 266.2% in the first quarter. Bank of New York Mellon Corp now owns 2,401,437 shares of the company’s stock valued at $22,189,000 after purchasing an additional 1,745,628 shares during the period. Natixis Advisors L.P. acquired a new stake in NexTier Oilfield Solutions in the first quarter valued at about $289,000. Finally, MetLife Investment Management LLC lifted its position in NexTier Oilfield Solutions by 40.1% in the first quarter. MetLife Investment Management LLC now owns 84,474 shares of the company’s stock valued at $781,000 after purchasing an additional 24,199 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

NexTier Oilfield Solutions Company Profile

As of September 1, 2023, NexTier Oilfield Solutions Inc was acquired by Patterson-UTI Energy, Inc 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.