NexTier Oilfield Solutions (NYSE: NEX – Get Assessed) had its target price raised by equity researchers at JPMorgan Chase & Co. from $9.00 to $13.00 in a research note released Friday to investors, reports The Fly. JPMorgan Chase & Co.’s price target indicates a potential upside of 17.01% from the company’s previous close.
Several other equity research analysts have also recently commented on NEX. Susquehanna raised its price target on NexTier Oilfield Solutions shares from $7.70 to $9.00 and gave the stock a “neutral” rating in a Friday, March 4 research note. Zacks Investment Research upgraded shares of NexTier Oilfield Solutions from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a Thursday, April 21 research note. Stifel Nicolaus raised his price target on NexTier Oilfield Solutions shares from $10.00 to $12.00 in a Friday, April 8 research note. Susquehanna Bancshares raised its price target on NexTier Oilfield Solutions shares from $7.70 to $9.00 and gave the stock a “neutral” rating in a Friday, March 4 research note. Finally, Morgan Stanley raised its price target on NexTier Oilfield Solutions shares from $8.00 to $11.00 and gave the stock an “overweight” rating in a Monday, April 11 report. Four investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $10.70.
NEX shares opened at $11.11 on Friday. The company has a market capitalization of $2.71 billion, a price-earnings ratio of -19.84 and a beta of 2.42. NexTier Oilfield Solutions has a 12-month low of $3.06 and a 12-month high of $11.82. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt ratio of 0.71. The company has a 50-day moving average of $9.29 and a 200-day moving average of $6.40.
NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last released quarterly earnings data on Monday, February 21. The company reported EPS of $0.05 for the quarter, beating Thomson Reuters consensus estimate of $0.03 ($0.08). NexTier Oilfield Solutions recorded a negative net margin of 8.39% and a negative return on equity of 23.16%. The company posted revenue of $509.73 million in the quarter, versus a consensus estimate of $505.48 million. In the same period a year earlier, the company posted ($0.32) earnings per share. On average, sell-side analysts expect NexTier Oilfield Solutions to post 0.41 EPS for the current year.
In other NexTier Oilfield Solutions news, Director James Carl Stewart sold 150,000 shares of NexTier Oilfield Solutions in a trade on Tuesday March 8th. The shares were sold at an average price of $9.22, for a total value of $1,383,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, top shareholder Alamo Frac Holdings, Llc sold 454,600 shares of NexTier Oilfield Solutions in a trade on Tuesday, March 15. The shares were sold at an average price of $8.55, for a total transaction of $3,886,830.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 1,075,663 shares of the company valued at $9,487,666. 2.20% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. Ahrens Investment Partners LLC acquired a new equity stake in NexTier Oilfield Solutions in the first quarter valued at approximately $170,000. Viking Fund Management LLC acquired a new equity stake in NexTier Oilfield Solutions in the first quarter valued at approximately $2,402,000. Assenagon Asset Management SA acquired a new equity stake in NexTier Oilfield Solutions in the first quarter valued at approximately $319,000. Zurcher Kantonalbank Zurcher Kantonalbank increased its position in NexTier Oilfield Solutions shares by 44.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,716 shares of the company valued at $247,000 after purchasing an additional 8,185 shares during the period. Finally, Cutler Group LP increased its position in NexTier Oilfield Solutions shares by 385.7% in the first quarter. Cutler Group LP now owns 7,237 shares of the company valued at $66,000 after purchasing an additional 9,770 shares during the period. 74.15% of the shares are held by institutional investors.
About NextTier Oilfield Solutions (Get an evaluation)
NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in a variety of 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 oil and natural gas production from low-permeability, flow-restricted hydrocarbon formations; wireline services; and drilling, pumping, line salvage, pressure pumping, well make-up and pressure testing services.
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