NexTier Oilfield Solutions (NYSE:NEX) Stock Price Up 6.8%

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NexTier Oilfield Solutions Inc. (NYSE:NEX)’s share price rose 6.8% during trading on Monday . The stock traded as high as $2.42 and last traded at $2.35, approximately 1,117,520 shares were traded during mid-day trading. A decline of 49% from the average daily volume of 2,193,500 shares. The stock had previously closed at $2.20.

NEX has been the topic of several research analyst reports. Bank of America downgraded NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. ValuEngine downgraded NexTier Oilfield Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Co reduced their target price on NexTier Oilfield Solutions from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. reduced their target price on NexTier Oilfield Solutions from $9.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Finally, Evercore ISI cut NexTier Oilfield Solutions from an “outperform” rating to an “in-line” rating in a report on Tuesday, March 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $3.60.

The company has a 50 day simple moving average of $2.85 and a two-hundred day simple moving average of $3.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.60.

NexTier Oilfield Solutions (NYSE:NEX) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.09. NexTier Oilfield Solutions had a negative return on equity of 3.63% and a negative net margin of 7.70%. The company had revenue of $627.60 million for the quarter, compared to analysts’ expectations of $617.34 million. The firm’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts predict that NexTier Oilfield Solutions Inc. will post -1.36 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of NEX. Advisor Group Inc. bought a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $39,000. Meeder Asset Management Inc. bought a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $58,000. Great West Life Assurance Co. Can bought a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $63,000. Profund Advisors LLC bought a new position in shares of NexTier Oilfield Solutions during the fourth quarter valued at approximately $72,000. Finally, Prudential Financial Inc. purchased a new stake in shares of NexTier Oilfield Solutions in the fourth quarter valued at approximately $82,000. 90.51% of the stock is currently owned by institutional investors.

NexTier Oilfield Solutions Company Profile (NYSE:NEX)

NexTier Oilfield Solutions Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.

Further Reading: Hedge Funds – How They Work For Investors

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