NexTier Oilfield Solutions Inc. (NYSE:NEX) Given Consensus Recommendation of “Hold” by Analysts

Shares of NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.40.

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their target price on shares of NexTier Oilfield Solutions from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday. Bank of America cut shares of NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the company from $12.50 to $9.50 in a report on Friday, July 15th. Citigroup upped their target price on shares of NexTier Oilfield Solutions to $15.00 in a report on Friday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of NexTier Oilfield Solutions from $9.00 to $13.00 in a report on Friday, April 29th. Finally, Stifel Nicolaus upped their target price on shares of NexTier Oilfield Solutions from $14.00 to $17.00 in a report on Thursday, June 16th.

NexTier Oilfield Solutions Price Performance

Shares of NEX opened at $9.34 on Wednesday. NexTier Oilfield Solutions has a 1-year low of $3.06 and a 1-year high of $12.50. The stock has a market cap of $2.28 billion, a PE ratio of 62.27 and a beta of 2.01. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.19 and a quick ratio of 1.10. The firm has a fifty day moving average price of $9.69 and a 200 day moving average price of $9.06.

Insiders Place Their Bets

In other NexTier Oilfield Solutions news, EVP Kevin M. Mcdonald sold 26,090 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $11.00, for a total transaction of $286,990.00. Following the transaction, the executive vice president now directly owns 334,048 shares in the company, valued at $3,674,528. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NexTier Oilfield Solutions news, EVP Kevin M. Mcdonald sold 26,090 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $11.00, for a total transaction of $286,990.00. Following the transaction, the executive vice president now directly owns 334,048 shares in the company, valued at $3,674,528. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kenneth Pucheu sold 23,500 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $11.02, for a total transaction of $258,970.00. Following the completion of the sale, the chief financial officer now owns 134,544 shares in the company, valued at $1,482,674.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,690 shares of company stock worth $2,324,360. 12.50% of the stock is owned by company insiders.

Institutional Trading of NexTier Oilfield Solutions

Large investors have recently modified their holdings of the business. Panagora Asset Management Inc. grew its position in shares of NexTier Oilfield Solutions by 98.1% in the fourth quarter. Panagora Asset Management Inc. now owns 36,509 shares of the company’s stock valued at $130,000 after purchasing an additional 18,079 shares during the last quarter. Ahrens Investment Partners LLC purchased a new position in shares of NexTier Oilfield Solutions during the first quarter valued at approximately $170,000. Teacher Retirement System of Texas lifted its stake in shares of NexTier Oilfield Solutions by 21.6% during the fourth quarter. Teacher Retirement System of Texas now owns 31,561 shares of the company’s stock valued at $112,000 after buying an additional 5,615 shares during the period. CoreCommodity Management LLC purchased a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $309,000. Finally, Icapital Wealth LLC purchased a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $433,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Stories

Analyst Recommendations for NexTier Oilfield Solutions (NYSE:NEX)

Want More Great Investing Ideas?

Receive News & Ratings for NexTier Oilfield Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NexTier Oilfield Solutions and related companies with MarketBeat.com's FREE daily email newsletter.