Wedge Capital Management LLP NC trimmed its position in NexTier Oilfield Solutions Inc. (NYSE: NEX – Get Rating) by 13.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,392 shares of the company stock after selling 4,732 shares during the period. Wedge Capital Management LLP NC’s holdings in NexTier Oilfield Solutions were worth $ 281,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its position in shares of NexTier Oilfield Solutions by 33.1% in the fourth quarter. Russell Investments Group Ltd. now owns 7,335,585 shares of the company stock valued at $ 26,039,000 after acquiring an additional 1,822,786 shares in the last quarter. Fisher Asset Management LLC raised its stake in NexTier Oilfield Solutions by 51.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,453,330 shares of the company stock valued at $ 15,809,000 after purchasing an additional 1,509,724 shares during the last quarter. Boston Partners lifted its holdings in NexTier Oilfield Solutions by 11.4% in the 4th quarter. Boston Partners now owns 3,556,767 shares of the company stock valued at $ 13,401,000 after purchasing an additional 365,275 shares in the last quarter. SIR Capital Management LP boosted its stake in NexTier Oilfield Solutions by 237.6% during the 4th quarter. SIR Capital Management LP now owns 2,779,386 shares of the company stock worth $ 9,867,000 after purchasing an additional 1,956,030 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of NexTier Oilfield Solutions by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,950,587 shares of the company stock worth $ 6,924,000 after buying an additional 116,408 shares in the last quarter. Institutional investors own 80.49% of the company stock.
In related news, CFO Kenneth Pucheu sold 23,500 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $ 11.02, for a total value of $ 258,970.00. Following the sale, the chief financial officer now owns 134,544 shares in the company, valued at approximately $ 1,482,674.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Keane Investor Holdings Llc sold 7,000,000 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 10.80, for a total value of $ 75,600,000.00. Following the transaction, the insider now directly owns 32,330,828 shares in the company, valued at approximately $ 349,172,942.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,197,690 shares of company stock worth $ 77,924,360. Company insiders own 12.50% of the company stock.
A number of equities analysts recently weighed in on NEX shares. Susquehanna boosted their price target on shares of NexTier Oilfield Solutions from $ 7.70 to $ 9.00 and gave the stock a “neutral” rating in a research report on Friday, March 4th. Piper Sandler upped their price target on NexTier Oilfield Solutions from $ 12.75 to $ 15.00 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Morgan Stanley lifted their price objective on NexTier Oilfield Solutions from $ 8.00 to $ 11.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. ATB Capital set a $ 16.50 target price on NexTier Oilfield Solutions in a report on Monday, June 20th. Finally, Barclays lifted their price target on NexTier Oilfield Solutions from $ 9.00 to $ 15.00 in a report on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $ 13.61.
Shares of NexTier Oilfield Solutions stock opened at $ 9.09 on Friday. The firm has a market cap of $ 2.22 billion, a PE ratio of -33.67 and a beta of 2.12. The company has a quick ratio of 1.00, a current ratio of 1.09 and a debt-to-equity ratio of 0.68. NexTier Oilfield Solutions Inc. has a 52 week low of $ 3.06 and a 52 week high of $ 12.50. The business’s fifty day simple moving average is $ 10.59 and its 200-day simple moving average is $ 8.20.
NexTier Oilfield Solutions (NYSE: NEX – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $ 0.05 earnings per share (EPS) for the quarter. The firm had revenue of $ 635.04 million for the quarter, compared to analyst estimates of $ 569.97 million. NexTier Oilfield Solutions had a negative net margin of 3.07% and a negative return on equity of 9.81%. As a group, equities analysts expect that NexTier Oilfield Solutions Inc. will post 0.97 earnings per share for the current year.
About NexTier Oilfield Solutions: (Get Rating)
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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