Rhumbline Advisers decreased its position in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,458 shares of the company’s stock after selling 28,219 shares during the period. Rhumbline Advisers owned 0.13% of NexTier Oilfield Solutions worth $1,302,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEX. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of NexTier Oilfield Solutions by 102.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,531 shares of the company’s stock valued at $69,000 after buying an additional 9,380 shares in the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of NexTier Oilfield Solutions in the first quarter valued at approximately $405,000. Swiss National Bank boosted its stake in shares of NexTier Oilfield Solutions by 1.1% in the first quarter. Swiss National Bank now owns 367,333 shares of the company’s stock valued at $1,366,000 after buying an additional 3,900 shares in the last quarter. BlackRock Inc. boosted its stake in shares of NexTier Oilfield Solutions by 13.3% in the first quarter. BlackRock Inc. now owns 13,593,777 shares of the company’s stock valued at $50,570,000 after buying an additional 1,597,115 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of NexTier Oilfield Solutions by 1,026.1% in the first quarter. Boston Partners now owns 3,690,158 shares of the company’s stock valued at $13,567,000 after buying an additional 3,362,465 shares in the last quarter. 87.05% of the stock is currently owned by institutional investors.
NEX has been the topic of a number of analyst reports. Zacks Investment Research downgraded NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research note on Friday, August 6th. Morgan Stanley boosted their target price on NexTier Oilfield Solutions from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $4.98.
NEX opened at $4.90 on Friday. The business’s fifty day moving average is $3.84 and its two-hundred day moving average is $4.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 1.74. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.22 and a beta of 3.37. NexTier Oilfield Solutions Inc. has a one year low of $1.63 and a one year high of $5.84.
NexTier Oilfield Solutions (NYSE:NEX) last released 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). NexTier Oilfield Solutions had a negative return on equity of 47.57% and a negative net margin of 27.68%. The company had revenue of $292.15 million during the quarter, compared to analysts’ expectations of $287.74 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, analysts predict that NexTier Oilfield Solutions Inc. will post -0.6 EPS for the current fiscal year.
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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