Credit Suisse Group Initiates Coverage on NexTier Oilfield Solutions (NYSE:NEX)

Credit Suisse Group began coverage on shares of NexTier Oilfield Solutions (NYSE:NEX) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm issued a neutral rating and a $6.00 price objective on the stock.

NEX has been the subject of a number of other reports. Citigroup initiated coverage on NexTier Oilfield Solutions in a research note on Wednesday, November 27th. They set a buy rating and a $5.80 price target for the company. Morgan Stanley reaffirmed an overweight rating and issued a $12.00 price objective on shares of NexTier Oilfield Solutions in a research report on Wednesday, November 13th. Zacks Investment Research lowered NexTier Oilfield Solutions from a buy rating to a hold rating in a research note on Thursday, November 7th. ValuEngine downgraded NexTier Oilfield Solutions from a buy rating to a hold rating in a research report on Monday, November 11th. Finally, Wells Fargo & Co boosted their target price on shares of NexTier Oilfield Solutions from $8.00 to $8.50 and gave the company an outperform rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. NexTier Oilfield Solutions presently has an average rating of Buy and an average price target of $8.26.

Shares of NEX traded up $0.36 during mid-day trading on Tuesday, reaching $5.50. 2,133,664 shares of the company’s stock traded hands, compared to its average volume of 1,438,059. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.69 and a current ratio of 1.79. NexTier Oilfield Solutions has a 12 month low of $4.05 and a 12 month high of $12.50. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 5.98 and a beta of 1.37.

A hedge fund recently bought a new stake in NexTier Oilfield Solutions stock. Public Employees Retirement System of Ohio purchased a new stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,685 shares of the company’s stock, valued at approximately $156,000. Institutional investors own 88.40% of the company’s stock.

About NexTier Oilfield Solutions

NexTier Oilfield Solutions Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

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Analyst Recommendations for NexTier Oilfield Solutions (NYSE:NEX)

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