NexTier Oilfield Solutions (NYSE:NEX) PT Set at $16.50 by ATB Capital

ATB Capital set a $16.50 price objective on NexTier Oilfield Solutions (NYSE:NEXGet Rating) in a research note issued to investors on Monday morning, Stock Target Advisor reports.

A number of other equities analysts have also recently weighed in on the company. TheStreet upgraded NexTier Oilfield Solutions from a d+ rating to a c rating in a report on Tuesday, February 22nd. Barclays upped their target price on NexTier Oilfield Solutions from $9.00 to $15.00 in a research report on Monday, May 2nd. Morgan Stanley upped their target price on NexTier Oilfield Solutions from $8.00 to $11.00 and gave the company an overweight rating in a research report on Monday, April 11th. Citigroup upped their target price on NexTier Oilfield Solutions to $15.00 in a research report on Friday, June 3rd. Finally, JPMorgan Chase & Co. upped their target price on NexTier Oilfield Solutions from $9.00 to $13.00 in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NexTier Oilfield Solutions currently has an average rating of Hold and an average target price of $13.61.

NYSE NEX opened at $8.78 on Monday. The stock has a market cap of $2.14 billion, a PE ratio of -32.52 and a beta of 2.12. NexTier Oilfield Solutions has a fifty-two week low of $3.06 and a fifty-two week high of $12.50. The business has a 50 day moving average price of $10.62 and a two-hundred day moving average price of $8.13. The company has a quick ratio of 1.00, a current ratio of 1.09 and a debt-to-equity ratio of 0.68.

NexTier Oilfield Solutions (NYSE:NEXGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.05 earnings per share 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 return on equity of 9.81% and a negative net margin of 3.07%. Sell-side analysts anticipate that NexTier Oilfield Solutions will post 0.97 EPS for the current fiscal year.

In other NexTier Oilfield Solutions news, CFO Kenneth Pucheu sold 23,500 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $11.02, for a total value of $258,970.00. Following the sale, the chief financial officer now directly owns 134,544 shares of the company’s stock, valued at $1,482,674.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Keane Investor Holdings Llc sold 7,000,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $10.80, for a total value of $75,600,000.00. Following the completion of the sale, the insider now directly owns 32,330,828 shares in the company, valued at $349,172,942.40. The disclosure for this sale can be found here. Insiders sold 7,197,690 shares of company stock worth $77,924,360 over the last ninety days. 12.50% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd grew its stake in shares of NexTier Oilfield Solutions by 2,229.4% in the third quarter. Point72 Hong Kong Ltd now owns 6,103 shares of the company’s stock worth $28,000 after purchasing an additional 5,841 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of NexTier Oilfield Solutions in the fourth quarter worth $36,000. Nisa Investment Advisors LLC bought a new position in shares of NexTier Oilfield Solutions in the first quarter worth $49,000. Cutler Group LP grew its stake in shares of NexTier Oilfield Solutions by 385.7% in the first quarter. Cutler Group LP now owns 7,237 shares of the company’s stock worth $66,000 after purchasing an additional 9,770 shares in the last quarter. Finally, SCP Investment LP bought a new position in shares of NexTier Oilfield Solutions in the fourth quarter worth $71,000. 80.49% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for NexTier Oilfield Solutions (NYSE:NEX)

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