Principal Financial Group Inc. Grows Position in NexTier Oilfield Solutions Inc. (NYSE:NEX)

Principal Financial Group Inc. lifted its holdings in shares of NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) by 12,221.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,942,432 shares of the company’s stock after acquiring an additional 1,926,668 shares during the quarter. Principal Financial Group Inc.’s holdings in NexTier Oilfield Solutions were worth $18,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NEX. Nisa Investment Advisors LLC purchased a new stake in shares of NexTier Oilfield Solutions during the first quarter valued at $49,000. Arizona State Retirement System boosted its position in NexTier Oilfield Solutions by 12.6% in the first quarter. Arizona State Retirement System now owns 49,056 shares of the company’s stock worth $453,000 after purchasing an additional 5,505 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in NexTier Oilfield Solutions in the first quarter worth about $173,000. New York State Common Retirement Fund boosted its position in NexTier Oilfield Solutions by 10.3% in the first quarter. New York State Common Retirement Fund now owns 113,351 shares of the company’s stock worth $1,047,000 after purchasing an additional 10,585 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in NexTier Oilfield Solutions by 27.0% in the first quarter. Fisher Asset Management LLC now owns 5,656,237 shares of the company’s stock worth $52,264,000 after purchasing an additional 1,202,907 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

NexTier Oilfield Solutions Price Performance

Shares of NexTier Oilfield Solutions stock opened at $10.43 on Wednesday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.55 and a beta of 2.10. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.30. The stock has a 50 day moving average price of $9.43 and a 200-day moving average price of $9.53. NexTier Oilfield Solutions Inc. has a one year low of $3.21 and a one year high of $12.50.

NexTier Oilfield Solutions (NYSE:NEXGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. NexTier Oilfield Solutions had a return on equity of 38.98% and a net margin of 6.69%. The company had revenue of $896.01 million during the quarter, compared to analysts’ expectations of $921.72 million. Equities analysts expect that NexTier Oilfield Solutions Inc. will post 1.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEX. Morgan Stanley cut NexTier Oilfield Solutions from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research report on Monday, September 26th. Barclays raised their target price on NexTier Oilfield Solutions from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price on shares of NexTier Oilfield Solutions in a research report on Friday, October 7th. TheStreet raised NexTier Oilfield Solutions from a “c” rating to a “b-” rating in a research note on Friday, October 21st. Finally, StockNews.com raised NexTier Oilfield Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, NexTier Oilfield Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $13.30.

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.

Further Reading

Want to see what other hedge funds are holding NEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating).

Institutional Ownership by Quarter for NexTier Oilfield Solutions (NYSE:NEX)

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.