NexTier Oilfield Solutions Inc. (NYSE:NEX) Holdings Decreased by MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lowered its stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEXGet Rating) by 48.3% in the first quarter, HoldingsChannel reports. The firm owned 887,645 shares of the company’s stock after selling 828,420 shares during the quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in NexTier Oilfield Solutions were worth $8,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in NEX. Nisa Investment Advisors LLC acquired a new position in NexTier Oilfield Solutions during the first quarter valued at $49,000. Cutler Group LP grew its stake in NexTier Oilfield Solutions by 385.7% in the first quarter. Cutler Group LP now owns 7,237 shares of the company’s stock valued at $66,000 after purchasing an additional 9,770 shares in the last quarter. CIBC Asset Management Inc purchased a new position in NexTier Oilfield Solutions in the fourth quarter valued at about $36,000. FourThought Financial LLC grew its stake in NexTier Oilfield Solutions by 327.7% in the first quarter. FourThought Financial LLC now owns 11,669 shares of the company’s stock valued at $108,000 after purchasing an additional 8,941 shares in the last quarter. Finally, Ahrens Investment Partners LLC purchased a new position in NexTier Oilfield Solutions in the first quarter valued at about $170,000. Institutional investors and hedge funds own 80.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NEX shares. JPMorgan Chase & Co. boosted their target price on NexTier Oilfield Solutions from $9.00 to $13.00 in a research note on Friday, April 29th. Susquehanna Bancshares set a $11.00 price target on NexTier Oilfield Solutions in a research note on Monday, June 20th. Barclays upped their price target on NexTier Oilfield Solutions from $9.00 to $15.00 in a research note on Monday, May 2nd. Morgan Stanley upped their price target on NexTier Oilfield Solutions from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, August 1st. Finally, Bank of America downgraded NexTier Oilfield Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.50 to $9.50 in a research note on Friday, July 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, NexTier Oilfield Solutions presently has an average rating of “Hold” and a consensus target price of $13.40.

Insider Buying and Selling at NexTier Oilfield Solutions

In other news, CFO Kenneth Pucheu sold 23,500 shares of the firm’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 transaction, the chief financial officer now directly owns 134,544 shares in the company, valued at approximately $1,482,674.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kenneth Pucheu sold 23,500 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $11.02, for a total transaction of $258,970.00. Following the sale, the chief financial officer now owns 134,544 shares of the company’s stock, valued at approximately $1,482,674.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin M. Mcdonald sold 50,000 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $12.02, for a total value of $601,000.00. Following the sale, the executive vice president now directly owns 260,738 shares in the company, valued at approximately $3,134,070.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,690 shares of company stock worth $2,324,360. Insiders own 12.50% of the company’s stock.

NexTier Oilfield Solutions Price Performance

NEX stock traded up $0.47 during midday trading on Friday, reaching $8.68. 3,138,469 shares of the company’s stock traded hands, compared to its average volume of 2,759,714. The company has a 50-day simple moving average of $9.54 and a two-hundred day simple moving average of $9.09. NexTier Oilfield Solutions Inc. has a 1-year low of $3.06 and a 1-year high of $12.50. The company 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.

About NexTier Oilfield Solutions

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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.

See Also

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Institutional Ownership by Quarter for NexTier Oilfield Solutions (NYSE:NEX)

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