SCP Investment LP bought a new position in NexTier Oilfield Solutions Inc. (NYSE:NEX) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $74,000.
Other large investors have also recently added to or reduced their stakes in the company. FDx Advisors Inc. bought a new stake in NexTier Oilfield Solutions in the 1st quarter worth approximately $43,000. Public Employees Retirement System of Ohio lifted its position in NexTier Oilfield Solutions by 34.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 12,949 shares of the company’s stock worth $45,000 after buying an additional 3,304 shares during the last quarter. Truist Financial Corp bought a new stake in NexTier Oilfield Solutions in the 4th quarter worth approximately $48,000. Teacher Retirement System of Texas bought a new stake in NexTier Oilfield Solutions in the 4th quarter worth approximately $50,000. Finally, Principal Financial Group Inc. lifted its position in NexTier Oilfield Solutions by 60.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,507 shares of the company’s stock worth $61,000 after buying an additional 6,214 shares during the last quarter. Institutional investors own 83.36% of the company’s stock.
Several analysts have weighed in on NEX shares. Zacks Investment Research downgraded NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 14th. Morgan Stanley boosted their price objective on NexTier Oilfield Solutions from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. Citigroup boosted their price objective on NexTier Oilfield Solutions from $4.00 to $4.50 in a research report on Wednesday, February 17th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded NexTier Oilfield Solutions from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, April 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $4.44.
NexTier Oilfield Solutions (NYSE:NEX) last posted its earnings results on Tuesday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. NexTier Oilfield Solutions had a negative return on equity of 48.49% and a negative net margin of 41.03%. The firm had revenue of $228.40 million for the quarter, compared to analysts’ expectations of $234.71 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was down 63.6% compared to the same quarter last year. Equities research analysts forecast that NexTier Oilfield Solutions Inc. will post -0.71 EPS for the current year.
NexTier Oilfield Solutions Profile
NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in various active and demanding basins. The company's 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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