SG Americas Securities LLC bought a new stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 38,409 shares of the company’s stock, valued at approximately $143,000.
Several other institutional investors also recently added to or reduced their stakes in NEX. Rhumbline Advisers lifted its position in shares of NexTier Oilfield Solutions by 12.2% during the 4th quarter. Rhumbline Advisers now owns 314,454 shares of the company’s stock valued at $1,082,000 after acquiring an additional 34,248 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of NexTier Oilfield Solutions during the 4th quarter valued at $50,000. Citigroup Inc. raised its holdings in NexTier Oilfield Solutions by 628.7% during the fourth quarter. Citigroup Inc. now owns 88,235 shares of the company’s stock worth $304,000 after buying an additional 76,127 shares during the last quarter. Credit Suisse AG raised its holdings in NexTier Oilfield Solutions by 38.4% during the fourth quarter. Credit Suisse AG now owns 186,073 shares of the company’s stock worth $642,000 after buying an additional 51,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in NexTier Oilfield Solutions by 34.3% during the fourth 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. Institutional investors own 83.34% of the company’s stock.
Several research analysts have weighed in on NEX shares. Zacks Investment Research upgraded shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a report on Thursday, July 15th. Morgan Stanley upped their price objective on shares of NexTier Oilfield Solutions from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Finally, upgraded shares of NexTier Oilfield Solutions from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Tuesday, April 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $4.72.
NexTier Oilfield Solutions (NYSE:NEX) last posted its quarterly earnings results on Tuesday, May 4th. The company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The company had revenue of $228.40 million during the quarter, compared to analyst estimates of $234.71 million. NexTier Oilfield Solutions had a negative net margin of 41.03% and a negative return on equity of 48.49%. The firm’s revenue for the quarter was down 63.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Equities analysts forecast that NexTier Oilfield Solutions Inc. will post -0.67 EPS for the current fiscal 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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