NexTier Oilfield Solutions Inc. (NYSE:NEX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) by 4.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,425,557 shares of the company’s stock after acquiring an additional 96,175 shares during the quarter. Principal Financial Group Inc.’s holdings in NexTier Oilfield Solutions were worth $22,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEX. C M Bidwell & Associates Ltd. acquired a new position in NexTier Oilfield Solutions during the third quarter valued at approximately $33,000. Harbor Investment Advisory LLC acquired a new position in NexTier Oilfield Solutions during the fourth quarter valued at approximately $36,000. Captrust Financial Advisors lifted its position in NexTier Oilfield Solutions by 42.9% during the second quarter. Captrust Financial Advisors now owns 4,066 shares of the company’s stock valued at $39,000 after buying an additional 1,221 shares in the last quarter. Macquarie Group Ltd. lifted its position in NexTier Oilfield Solutions by 52.7% during the second quarter. Macquarie Group Ltd. now owns 6,831 shares of the company’s stock valued at $65,000 after buying an additional 2,357 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in NexTier Oilfield Solutions during the fourth quarter valued at approximately $68,000. 76.09% of the stock is owned by institutional investors and hedge funds.

NexTier Oilfield Solutions Stock Up 0.1 %

Shares of NYSE:NEX opened at $8.04 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $7.99 and a 200 day simple moving average of $8.99. The firm has a market cap of $1.85 billion, a PE ratio of 3.50, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07. NexTier Oilfield Solutions Inc. has a 12-month low of $6.66 and a 12-month high of $12.50.

NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. NexTier Oilfield Solutions had a net margin of 15.80% and a return on equity of 63.92%. The business had revenue of $935.67 million during the quarter, compared to analyst estimates of $926.41 million. On average, equities research analysts anticipate that NexTier Oilfield Solutions Inc. will post 2.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NEX shares. Citigroup lifted their price objective on shares of NexTier Oilfield Solutions from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, February 17th. Piper Sandler dropped their price objective on shares of NexTier Oilfield Solutions from $14.00 to $13.00 in a research note on Monday, May 1st. StockNews.com started coverage on shares of NexTier Oilfield Solutions in a research note on Thursday. They set a “buy” rating on the stock. Bank of America lowered shares of NexTier Oilfield Solutions from a “neutral” rating to an “underperform” rating and set a $8.50 price objective on the stock. in a research note on Tuesday, April 18th. Finally, Susquehanna dropped their price objective on shares of NexTier Oilfield Solutions from $10.00 to $8.90 in a research note on Monday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.54.

About NexTier Oilfield Solutions

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NexTier Oilfield Solutions, Incis an oilfield service company. It offers completion solutions, hydraulic fracturing, wire line, pump down, coiled tubing, cementing, rig services, special services, and fluids management services. The company operates through the following segments: Completion Services, Well Construction and Intervention Services, and Well Support Services.