MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lessened its stake in NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) by 48.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 887,645 shares of the company’s stock after selling 828,420 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned about 0.36% of NexTier Oilfield Solutions worth $8,202,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Panagora Asset Management Inc. raised its stake in NexTier Oilfield Solutions by 98.1% in the 4th quarter. Panagora Asset Management Inc. now owns 36,509 shares of the company’s stock valued at $130,000 after purchasing an additional 18,079 shares during the last quarter. Ahrens Investment Partners LLC acquired a new stake in NexTier Oilfield Solutions in the 1st quarter valued at about $170,000. Teacher Retirement System of Texas raised its position in NexTier Oilfield Solutions by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 31,561 shares of the company’s stock valued at $112,000 after purchasing an additional 5,615 shares in the last quarter. CoreCommodity Management LLC acquired a new stake in NexTier Oilfield Solutions in the 4th quarter valued at about $309,000. Finally, Icapital Wealth LLC acquired a new stake in shares of NexTier Oilfield Solutions during the 4th quarter worth about $433,000. Hedge funds and other institutional investors own 80.49% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on NEX shares. Bank of America cut NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $12.50 to $9.50 in a report on Friday, July 15th. Citigroup upped their target price on NexTier Oilfield Solutions to $15.00 in a research report on Friday, June 3rd. Piper Sandler increased their price target on NexTier Oilfield Solutions from $12.75 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, June 1st. ATB Capital set a $16.50 price objective on NexTier Oilfield Solutions in a research note on Monday, June 20th. Finally, JPMorgan Chase & Co. upped their price objective on NexTier Oilfield Solutions from $9.00 to $13.00 in a research note on Friday, April 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.40.
Insider Buying and Selling at NexTier Oilfield Solutions
NexTier Oilfield Solutions Stock Performance
Shares of NEX traded up $0.47 during mid-day trading on Friday, hitting $8.68. 3,138,469 shares of the company’s stock were exchanged, compared to its average volume of 2,759,714. The stock’s 50-day simple moving average is $9.54 and its 200-day simple moving average is $9.09. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 57.87 and a beta of 2.01. The company has a quick ratio of 1.10, a current ratio of 1.19 and a debt-to-equity ratio of 0.59. NexTier Oilfield Solutions Inc. has a 52 week low of $3.06 and a 52 week high of $12.50.
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 operates through two segments, Completion Services, and Well Construction and Intervention Services. The 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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