Susquehanna Bancshares Reiterates $11.00 Price Target for NexTier Oilfield Solutions (NYSE:NEX)

NexTier Oilfield Solutions (NYSE:NEXGet Rating) has been given a $11.00 price target by research analysts at Susquehanna Bancshares in a report issued on Monday, Stock Target Advisor reports. Susquehanna Bancshares’ price objective indicates a potential upside of 19.18% from the stock’s previous close.

A number of other analysts have also recently commented on NEX. StockNews.com began coverage on shares of NexTier Oilfield Solutions in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Citigroup increased their price target on shares of NexTier Oilfield Solutions to $15.00 in a research note on Friday, June 3rd. Piper Sandler increased their price objective on shares of NexTier Oilfield Solutions from $12.75 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. TheStreet raised shares of NexTier Oilfield Solutions from a “d+” rating to a “c” rating in a research report on Tuesday, February 22nd. Finally, Stifel Nicolaus increased their price objective on shares of NexTier Oilfield Solutions from $14.00 to $17.00 in a research report on Thursday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.61.

NEX stock traded down $0.93 during trading hours on Monday, reaching $9.23. The stock had a trading volume of 472,143 shares, compared to its average volume of 3,591,332. The stock has a market capitalization of $2.25 billion, a PE ratio of -34.18 and a beta of 2.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.09 and a quick ratio of 1.00. The stock has a 50-day simple moving average of $10.74 and a 200 day simple moving average of $8.04. NexTier Oilfield Solutions has a fifty-two week low of $3.06 and a fifty-two week high of $12.50.

NexTier Oilfield Solutions (NYSE:NEXGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.05 EPS for the quarter. The firm had revenue of $635.04 million during the quarter, compared to analysts’ expectations of $569.97 million. NexTier Oilfield Solutions had a negative net margin of 3.07% and a negative return on equity of 9.81%. On average, sell-side analysts forecast that NexTier Oilfield Solutions will post 0.97 EPS for the current fiscal year.

In related news, Director James Carl Stewart sold 57,500 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $12.00, for a total transaction of $690,000.00. Following the transaction, the director now directly owns 2,276,867 shares of the company’s stock, valued at $27,322,404. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kevin M. Mcdonald sold 50,000 shares of the firm’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 transaction, the executive vice president now directly owns 260,738 shares in the company, valued at $3,134,070.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,197,690 shares of company stock worth $77,924,360. 12.50% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NEX. Point72 Hong Kong Ltd increased its holdings in NexTier Oilfield Solutions by 2,229.4% in the 3rd quarter. Point72 Hong Kong Ltd now owns 6,103 shares of the company’s stock valued at $28,000 after buying an additional 5,841 shares during the period. CIBC Asset Management Inc bought a new position in NexTier Oilfield Solutions in the 4th quarter valued at about $36,000. Nisa Investment Advisors LLC bought a new position in NexTier Oilfield Solutions in the 1st quarter valued at about $49,000. Cutler Group LP increased its holdings in NexTier Oilfield Solutions by 385.7% in the 1st 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 period. Finally, Royal Bank of Canada increased its holdings in NexTier Oilfield Solutions by 338.2% in 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. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

About NexTier Oilfield Solutions (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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