NexTier Oilfield Solutions (NYSE:NEX) PT Set at $16.50 by ATB Capital

ATB Capital set a $16.50 target price on NexTier Oilfield Solutions (NYSE:NEXGet Rating) in a research report sent to investors on Monday morning, Stock Target Advisor reports.

A number of other equities analysts also recently issued reports on the company. Piper Sandler upped their price target on NexTier Oilfield Solutions from $12.75 to $15.00 and gave the company a neutral rating in a report on Wednesday, June 1st. TheStreet raised NexTier Oilfield Solutions from a d+ rating to a c rating in a report on Tuesday, February 22nd. Susquehanna upped their price target on NexTier Oilfield Solutions from $7.70 to $9.00 and gave the company a neutral rating in a report on Friday, March 4th. Susquehanna Bancshares increased their price objective on NexTier Oilfield Solutions from $7.70 to $9.00 and gave the company a neutral rating in a report on Friday, March 4th. Finally, Barclays increased their price objective on NexTier Oilfield Solutions from $9.00 to $15.00 in a report on Monday, May 2nd. Four investment 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, NexTier Oilfield Solutions has an average rating of Hold and a consensus target price of $13.61.

NEX stock opened at $8.78 on Monday. The company’s 50 day moving average price is $10.62 and its 200 day moving average price is $8.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.09. NexTier Oilfield Solutions has a fifty-two week low of $3.06 and a fifty-two week high of $12.50. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -32.52 and a beta of 2.12.

NexTier Oilfield Solutions (NYSE:NEXGet Rating) last released its earnings results on Wednesday, April 27th. The company reported $0.05 earnings per share for the quarter. The firm had revenue of $635.04 million for the quarter, compared to analyst estimates of $569.97 million. NexTier Oilfield Solutions had a negative net margin of 3.07% and a negative return on equity of 9.81%. Equities analysts forecast that NexTier Oilfield Solutions will post 0.97 EPS for the current fiscal year.

In other NexTier Oilfield Solutions news, major shareholder Keane Investor Holdings Llc sold 7,000,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $10.80, for a total value of $75,600,000.00. Following the completion of the transaction, the insider now owns 32,330,828 shares in the company, valued at $349,172,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin M. Mcdonald sold 26,090 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $11.00, for a total value of $286,990.00. Following the completion of the transaction, the executive vice president now owns 334,048 shares of the company’s stock, valued at approximately $3,674,528. The disclosure for this sale can be found here. Insiders sold 7,197,690 shares of company stock valued at $77,924,360 in the last quarter. 12.50% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of NexTier Oilfield Solutions by 65.2% in the first quarter. Bank of America Corp DE now owns 256,180 shares of the company’s stock valued at $2,368,000 after buying an additional 101,065 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of NexTier Oilfield Solutions in the first quarter valued at $330,000. Alyeska Investment Group L.P. purchased a new position in shares of NexTier Oilfield Solutions in the first quarter valued at $991,000. Quantbot Technologies LP purchased a new position in shares of NexTier Oilfield Solutions in the first quarter valued at $920,000. Finally, Royal Bank of Canada increased its position in shares of NexTier Oilfield Solutions by 76.4% in the first quarter. Royal Bank of Canada now owns 66,041 shares of the company’s stock valued at $610,000 after buying an additional 28,605 shares in the last quarter. Institutional investors and hedge funds own 80.49% of the company’s stock.

NexTier Oilfield Solutions Company Profile (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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Analyst Recommendations for NexTier Oilfield Solutions (NYSE:NEX)

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