Other equities research analysts also recently issued research reports about the company. Susquehanna increased their price target on NexTier Oilfield Solutions from $7.70 to $9.00 and gave the stock a neutral rating in a research report on Friday, March 4th. Stifel Nicolaus upped their target price on NexTier Oilfield Solutions from $14.00 to $17.00 in a research note on Thursday, June 16th. Morgan Stanley upped their target price on NexTier Oilfield Solutions from $8.00 to $11.00 and gave the stock an overweight rating in a research note on Monday, April 11th. ATB Capital set a $16.50 target price on NexTier Oilfield Solutions in a research note on Monday. Finally, TheStreet upgraded NexTier Oilfield Solutions from a d+ rating to a c rating in a research note on Tuesday, February 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $13.61.
Shares of NYSE:NEX opened at $8.78 on Monday. The company has a market capitalization of $2.14 billion, a P/E ratio of -32.52 and a beta of 2.12. NexTier Oilfield Solutions has a 1 year low of $3.06 and a 1 year high of $12.50. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.09 and a quick ratio of 1.00. The business’s 50 day simple moving average is $10.62 and its 200 day simple moving average is $8.13.
In other NexTier Oilfield Solutions news, major shareholder Keane Investor Holdings Llc sold 7,000,000 shares of NexTier Oilfield Solutions stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $10.80, for a total transaction of $75,600,000.00. Following the completion of the transaction, the insider now owns 32,330,828 shares in the company, valued at approximately $349,172,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Carl Stewart sold 57,500 shares of NexTier Oilfield Solutions stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $12.00, for a total transaction of $690,000.00. Following the transaction, the director now directly owns 2,276,867 shares in the company, valued at approximately $27,322,404. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,197,690 shares of company stock valued at $77,924,360. Company insiders own 12.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of NexTier Oilfield Solutions by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 19,679,910 shares of the company’s stock worth $181,842,000 after buying an additional 1,155,116 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of NexTier Oilfield Solutions by 87.2% in the 1st quarter. Van ECK Associates Corp now owns 8,019,096 shares of the company’s stock worth $74,096,000 after purchasing an additional 3,735,488 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of NexTier Oilfield Solutions by 33.1% in the 4th quarter. Russell Investments Group Ltd. now owns 7,335,585 shares of the company’s stock worth $26,039,000 after purchasing an additional 1,822,786 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of NexTier Oilfield Solutions by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,267,371 shares of the company’s stock worth $57,911,000 after purchasing an additional 802,845 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of NexTier Oilfield Solutions by 27.0% in the 1st quarter. Fisher Asset Management LLC now owns 5,656,237 shares of the company’s stock worth $52,264,000 after purchasing an additional 1,202,907 shares during the period. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
About NexTier Oilfield Solutions (Get Rating)
NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in various active and demanding basins. The company operates through 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.
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