NEX has been the topic of several other research reports. Barclays raised their target price on shares of NexTier Oilfield Solutions from $9.00 to $15.00 in a report on Monday, May 2nd. Citigroup increased their price target on shares of NexTier Oilfield Solutions to $15.00 in a research report on Friday, June 3rd. JPMorgan Chase & Co. increased their price target on shares of NexTier Oilfield Solutions from $9.00 to $13.00 in a research report on Friday, April 29th. Susquehanna Bancshares increased their price target on shares of NexTier Oilfield Solutions from $7.70 to $9.00 and gave the stock a neutral rating in a research report on Friday, March 4th. Finally, TheStreet upgraded shares of NexTier Oilfield Solutions from a d+ rating to a c rating in a research report on Tuesday, February 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $13.61.
Shares of NEX stock opened at $8.78 on Monday. NexTier Oilfield Solutions has a 12-month low of $3.06 and a 12-month high of $12.50. The company has a current ratio of 1.09, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $10.62 and its 200 day moving average is $8.13. The stock has a market capitalization of $2.14 billion, a P/E ratio of -32.52 and a beta of 2.12.
In related news, major shareholder Keane Investor Holdings Llc sold 7,000,000 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $10.80, for a total transaction of $75,600,000.00. Following the completion of the transaction, the insider now directly owns 32,330,828 shares of the company’s stock, valued at $349,172,942.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Pucheu sold 23,500 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 134,544 shares of the company’s stock, valued at $1,482,674.88. The disclosure for this sale can be found here. Insiders have sold a total of 7,197,690 shares of company stock worth $77,924,360 over the last 90 days. Insiders own 12.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new position in NexTier Oilfield Solutions during the first quarter valued at $49,000. Point72 Hong Kong Ltd grew its stake in NexTier Oilfield Solutions by 2,229.4% during the third quarter. Point72 Hong Kong Ltd now owns 6,103 shares of the company’s stock valued at $28,000 after acquiring an additional 5,841 shares in the last quarter. Cutler Group LP grew its stake in shares of NexTier Oilfield Solutions by 385.7% in the 1st quarter. Cutler Group LP now owns 7,237 shares of the company’s stock worth $66,000 after buying an additional 9,770 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of NexTier Oilfield Solutions in the 4th quarter worth $36,000. Finally, FourThought Financial LLC grew its stake in shares of NexTier Oilfield Solutions by 327.7% in the 1st quarter. FourThought Financial LLC now owns 11,669 shares of the company’s stock worth $108,000 after buying an additional 8,941 shares in the last quarter. 80.49% of the stock is owned by 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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