NexTier Oilfield Solutions Inc. (NYSE:NEX) Receives $4.93 Consensus Price Target from Analysts

NexTier Oilfield Solutions Inc. (NYSE:NEX) has been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.93.

NEX has been the topic of several research reports. Zacks Investment Research lowered NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Morgan Stanley raised their price objective on NexTier Oilfield Solutions from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, July 9th.

Shares of NEX stock opened at $4.05 on Friday. The firm’s 50-day simple moving average is $3.81 and its 200-day simple moving average is $4.19. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.74 and a quick ratio of 1.63. NexTier Oilfield Solutions has a 1-year low of $1.58 and a 1-year high of $5.84. The firm has a market cap of $873.79 million, a P/E ratio of -3.49 and a beta of 3.37.

NexTier Oilfield Solutions (NYSE:NEX) last posted its quarterly earnings results on Wednesday, August 4th. The company reported ($0.19) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.19). The company had revenue of $292.15 million for the quarter, compared to the consensus estimate of $287.74 million. NexTier Oilfield Solutions had a negative net margin of 27.68% and a negative return on equity of 47.57%. NexTier Oilfield Solutions’s revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) earnings per share. Analysts expect that NexTier Oilfield Solutions will post -0.6 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in NEX. Axiom Investment Management LLC acquired a new stake in NexTier Oilfield Solutions in the 1st quarter valued at $37,000. Nisa Investment Advisors LLC purchased a new stake in shares of NexTier Oilfield Solutions in the second quarter worth about $41,000. Public Employees Retirement System of Ohio grew its stake in shares of NexTier Oilfield Solutions by 17.0% in the first quarter. Public Employees Retirement System of Ohio now owns 15,146 shares of the company’s stock valued at $56,000 after buying an additional 2,197 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of NexTier Oilfield Solutions by 60.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,507 shares of the company’s stock valued at $61,000 after buying an additional 6,214 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in NexTier Oilfield Solutions by 22.0% during the 1st quarter. Teacher Retirement System of Texas now owns 17,876 shares of the company’s stock worth $66,000 after acquiring an additional 3,228 shares in the last quarter. 87.05% of the stock is owned by hedge funds and other institutional investors.

About NexTier Oilfield Solutions

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.

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