NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating)’s stock price gapped down prior to trading on Wednesday after Morgan Stanley lowered their price target on the stock from $13.00 to $12.00. The stock had previously closed at $8.49, but opened at $8.29. Morgan Stanley currently has an equal weight rating on the stock. NexTier Oilfield Solutions shares last traded at $8.38, with a volume of 8,451 shares trading hands.
Other equities research analysts have also recently issued research reports about the company. TheStreet raised NexTier Oilfield Solutions from a “c” rating to a “b-” rating in a research note on Friday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $12.00 target price on shares of NexTier Oilfield Solutions in a research report on Friday, October 7th. Raymond James began coverage on shares of NexTier Oilfield Solutions in a report on Friday, December 9th. They issued a “strong-buy” rating and a $19.00 price target for the company. Barclays lifted their price target on shares of NexTier Oilfield Solutions from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. Finally, StockNews.com raised shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.73.
Institutional Investors Weigh In On NexTier Oilfield Solutions
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in NexTier Oilfield Solutions by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 20,093,144 shares of the company’s stock worth $148,690,000 after acquiring an additional 172,678 shares during the last quarter. FMR LLC grew its position in NexTier Oilfield Solutions by 67.2% in the 2nd quarter. FMR LLC now owns 10,792,691 shares of the company’s stock worth $102,639,000 after purchasing an additional 4,336,990 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in NexTier Oilfield Solutions by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,365,085 shares of the company’s stock valued at $47,102,000 after buying an additional 252,486 shares during the last quarter. State Street Corp lifted its position in shares of NexTier Oilfield Solutions by 21.3% during the 1st quarter. State Street Corp now owns 5,517,089 shares of the company’s stock worth $50,978,000 after buying an additional 967,240 shares in the last quarter. Finally, Aristotle Capital Boston LLC boosted its stake in shares of NexTier Oilfield Solutions by 1.9% in the 2nd quarter. Aristotle Capital Boston LLC now owns 3,824,083 shares of the company’s stock worth $36,367,000 after buying an additional 69,808 shares during the last quarter. Institutional investors own 76.09% of the company’s stock.
NexTier Oilfield Solutions Trading Down 0.5 %
The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.21. The company has a market capitalization of $2.07 billion, a P/E ratio of 10.97 and a beta of 2.07. The firm has a fifty day moving average price of $9.78 and a 200-day moving average price of $9.29.
NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $896.01 million during the quarter, compared to the consensus estimate of $921.72 million. NexTier Oilfield Solutions had a return on equity of 38.98% and a net margin of 6.69%. On average, equities research analysts anticipate that NexTier Oilfield Solutions Inc. will post 1.32 earnings per share for the current year.
About NexTier Oilfield Solutions
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.