NexTier Oilfield Solutions Inc. (NYSE:NEX) Expected to Post Quarterly Sales of $747.67 Million

Wall Street brokerages expect NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) to report sales of $747.67 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for NexTier Oilfield Solutions’ earnings, with the highest sales estimate coming in at $777.32 million and the lowest estimate coming in at $694.89 million. NexTier Oilfield Solutions reported sales of $292.15 million during the same quarter last year, which indicates a positive year over year growth rate of 155.9%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that NexTier Oilfield Solutions will report full-year sales of $2.89 billion for the current fiscal year, with estimates ranging from $2.66 billion to $2.99 billion. For the next financial year, analysts forecast that the business will post sales of $3.24 billion, with estimates ranging from $2.97 billion to $3.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for NexTier Oilfield Solutions.

A number of research firms recently commented on NEX. TheStreet upgraded shares of NexTier Oilfield Solutions from a “d+” rating to a “c” rating in a report on Tuesday, February 22nd. Zacks Investment Research upgraded shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, April 21st. StockNews.com assumed coverage on shares of NexTier Oilfield Solutions in a report on Thursday, March 31st. They set a “hold” rating for the company. Citigroup upped their price objective on shares of NexTier Oilfield Solutions to $15.00 in a report on Friday, June 3rd. Finally, Morgan Stanley upped their price objective on shares of NexTier Oilfield Solutions from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, April 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.44.

Shares of NexTier Oilfield Solutions stock opened at $11.60 on Friday. NexTier Oilfield Solutions has a 52-week low of $3.06 and a 52-week high of $12.50. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -42.96 and a beta of 2.12. The company has a fifty day moving average of $10.72 and a 200-day moving average of $7.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.09.

In other news, CFO Kenneth Pucheu sold 23,500 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $11.02, for a total transaction of $258,970.00. Following the sale, the chief financial officer now owns 134,544 shares of the company’s stock, valued at approximately $1,482,674.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alamo Frac Holdings, Llc sold 454,600 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $8.55, for a total transaction of $3,886,830.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,777,277 shares of company stock worth $82,893,577 over the last three months. 12.50% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of NEX. Point72 Hong Kong Ltd raised its stake in NexTier Oilfield Solutions by 2,229.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 6,103 shares of the company’s stock worth $28,000 after acquiring an additional 5,841 shares during the period. CIBC Asset Management Inc bought a new stake in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $36,000. Nisa Investment Advisors LLC bought a new stake in shares of NexTier Oilfield Solutions during the first quarter valued at approximately $49,000. Cutler Group LP raised its position in shares of NexTier Oilfield Solutions by 385.7% during the first quarter. Cutler Group LP now owns 7,237 shares of the company’s stock valued at $66,000 after buying an additional 9,770 shares during the last quarter. Finally, Royal Bank of Canada raised its position in shares of NexTier Oilfield Solutions by 338.2% during the second 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 last quarter. Hedge funds and other institutional investors 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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