MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lowered its stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX – Get 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
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
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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