NexTier Oilfield Solutions Inc. (NYSE:NEX) EVP Kevin M. Mcdonald Sells 50,000 Shares

NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) EVP Kevin M. Mcdonald sold 50,000 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $12.02, for a total transaction of $601,000.00. Following the completion of the sale, the executive vice president now directly owns 260,738 shares of the company’s stock, valued at $3,134,070.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of NYSE:NEX traded up $0.58 during trading on Tuesday, reaching $12.35. 3,442,178 shares of the company traded hands, compared to its average volume of 3,508,064. The firm has a fifty day simple moving average of $10.55 and a 200 day simple moving average of $7.59. NexTier Oilfield Solutions Inc. has a 1-year low of $3.06 and a 1-year high of $12.39. The company has a current ratio of 1.09, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Several research analysts have commented on NEX shares. Zacks Investment Research upgraded shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Thursday, April 21st. Susquehanna raised their price objective on shares of NexTier Oilfield Solutions from $7.70 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, March 4th. JPMorgan Chase & Co. lifted their price objective on shares of NexTier Oilfield Solutions from $9.00 to $13.00 in a research report on Friday, April 29th. TheStreet upgraded shares of NexTier Oilfield Solutions from a “d+” rating to a “c” rating in a research report on Tuesday, February 22nd. Finally, Piper Sandler lifted their price objective on shares of NexTier Oilfield Solutions from $12.75 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.44.

Several large investors have recently modified their holdings of NEX. Morgan Stanley boosted its stake in shares of NexTier Oilfield Solutions by 1,241.3% during the 2nd quarter. Morgan Stanley now owns 226,364 shares of the company’s stock valued at $1,078,000 after buying an additional 209,487 shares during the period. Royal Bank of Canada boosted its stake in shares of NexTier Oilfield Solutions by 338.2% during the 2nd quarter. Royal Bank of Canada now owns 14,833 shares of the company’s stock valued at $70,000 after buying an additional 11,448 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NexTier Oilfield Solutions by 716.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 3,801,541 shares of the company’s stock valued at $17,487,000 after buying an additional 3,336,137 shares during the period. Credit Suisse AG boosted its stake in shares of NexTier Oilfield Solutions by 14.3% during the 3rd quarter. Credit Suisse AG now owns 134,893 shares of the company’s stock valued at $620,000 after buying an additional 16,836 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of NexTier Oilfield Solutions by 38.9% during the 3rd quarter. Franklin Resources Inc. now owns 7,728,821 shares of the company’s stock valued at $35,553,000 after buying an additional 2,162,976 shares during the period. 80.49% of the stock is owned by institutional investors.

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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