According to a report from Bloomberg, NexTier Oilfield Solutions Inc. (NYSE:NEX) has received a “Hold” rating from seven analysts who are currently covering the company. Of these analysts, one has given a sell recommendation, three have issued a hold recommendation, two have recommended buying the stock, and one has issued a strong buy recommendation. The consensus among analysts regarding NexTier Oilfield Solutions is that investors should hold onto their shares. Additionally, the average twelve-month price objective among analysts who have updated their coverage on the stock in the last year is $12.48.
As of October 2, 2023, NexTier Oilfield Solutions stock opened at $10.69 per share. The stock has seen a range of $6.66 to $11.99 over the past fifty-two weeks. With a debt-to-equity ratio of 0.32 and quick and current ratios of 1.26 and 1.37 respectively, the company appears to be managing its finances reasonably well.
NexTier Oilfield Solutions also boasts a market capitalization of $2.44 billion with a PE ratio of 4.00 and a beta of 2.13 as reported by Bloomberg on October 2nd, 2023.The firm’s more recent moving averages indicate its stock trading around $10.99 for fifty days and $9.39 for two hundred days.
Looking at investor activity surrounding NexTier Oilfield Solutions, several large investors have both increased and decreased their holdings in the company’s stock in recent times.Investment firm Metropolitan Life Insurance Co NY grew its stake by around 12% during the second quarter while Xponance Inc., another financial player,saw an increase in its position by roughly 12% as well.Captrust Financial Advisors experienced an even larger growth rate with an increase of approximately 43%. Profund Advisors LLC also saw an increase albeit smaller,in its position by 2.1%. Meanwhile, Arizona State Retirement System increased its holdings in NexTier Oilfield Solutions by approximately 3.3%, bringing their total share count to 56,914 shares.
In terms of financial performance, NexTier Oilfield Solutions last released its quarterly earnings data on Tuesday, July 25th.According to the report, the company posted earnings per share (EPS) of $0.64 for the quarter, exceeding the consensus estimate by $0.03. The company generated revenue totaling $945.09 million for the quarter, slightly below analysts’ expectations of $948.66 million.
Looking ahead to the current year, research analysts anticipate that NexTier Oilfield Solutions will post earnings per share of around $2.16.
In conclusion, based on a consensus rating of “Hold” from seven analysts covering the company and an average twelve-month price objective of $12.48 among these analysts,NexTier Oilfield Solutions appears to have mixed sentiment within the investment community.However,the company’s recent financial performance has been relatively positive with better-than-expected earnings results.Stockholders will likely continue monitoring NexTier Oilfield Solutions closely as they assess future investment decisions.
(Note: This article is based on information available as of October 2, 2023.)
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Fluctuations in Price Targets and Insider Selling: Assessing the Trajectory of NexTier Oilfield Solutions
In recent months, there has been a flurry of activity surrounding the shares of NexTier Oilfield Solutions. Numerous research analysts have released reports on the company, providing various price targets and ratings. These reports have generated quite the buzz within the industry.
Citigroup, for example, recently increased their price target on NexTier Oilfield Solutions from $9.75 to $11.30, while maintaining a “neutral” rating. This adjustment in their price target indicates cautious optimism towards the stock. Similarly, Stifel Nicolaus lowered their price objective from $18.00 to $16.00, suggesting a slightly more pessimistic view of the company’s potential.
Barclays also reduced their price objective, taking it from $18.00 down to $13.00. Such fluctuations in price targets reflect uncertainty and volatility surrounding NexTier Oilfield Solutions’ stock performance.
Contrasting with these mitigated opinions, StockNews.com has reflected confidence in NexTier Oilfield Solutions by initiating coverage on the stock and giving it a “buy” rating. This optimistic outlook resonates with some investors who may view this as a potentially lucrative investment opportunity.
Amidst all this speculation, certain transactions involving key executives at NexTier Oilfield Solutions have emerged – specifically those made by EVP Kevin M. Mcdonald and CEO Robert Wayne Drummond Jr.
On Wednesday, August 2nd, EVP Kevin M. Mcdonald sold 100,000 shares of NexTier Oilfield Solutions at an average price of $11.70 per share – amassing a total transaction value of $1,170,000. Following this sale, Mcdonald now holds 329,560 shares directly in the company – valued at approximately $3,855,852.
Additionally, CEO Robert Wayne Drummond Jr., sold 250,000 shares of the company’s stock on that same day at an average price of $11.69 per share. This transaction yielded a total value of $2,922,500. Following this sale, Drummond Jr. possesses 1,528,252 shares in NexTier Oilfield Solutions – valued at approximately $17,865,265.88.
Such significant insider selling may raise questions among investors who are keen on assessing the company’s long-term prospects. However, it is important to note that insiders collectively sold 481,491 shares of the company’s stock in the last ninety days alone – representing only 2.50% of total shares outstanding.
These transactions were legally disclosed through filings with the Securities & Exchange Commission (SEC), and additional details can be accessed via the provided hyperlinks.
As of now, NexTier Oilfield Solutions finds itself under scrutiny from both research analysts and investors alike due to recent price target adjustments as well as insider selling. With the stock price exhibiting volatility and conflicting reports emerging from various sources, it remains difficult to definitively assess the company’s trajectory.
Nevertheless, these developments solidify the notion that NexTier Oilfield Solutions is navigating a complex market environment where perceptions and sentiments can significantly impact its stock performance.
