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Jun 10, 2023

HighTower Advisors LLC Invests $286,000 in NexTier Oilfield Solutions Inc. (NYSE:NEX)

HighTower Advisors LLC acquired a new stake in shares of NexTier Oilfield

HighTower Advisors LLC acquired a new stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX - Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 31,214 shares of the company's stock, valued at approximately $286,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new position in shares of NexTier Oilfield Solutions in the 1st quarter worth approximately $173,000. Raymond James Financial Services Advisors Inc. purchased a new position in NexTier Oilfield Solutions in the first quarter worth $196,000. Bank of New York Mellon Corp increased its position in shares of NexTier Oilfield Solutions by 266.2% during the first quarter. Bank of New York Mellon Corp now owns 2,401,437 shares of the company's stock worth $22,189,000 after purchasing an additional 1,745,628 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of NexTier Oilfield Solutions during the first quarter worth $289,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of NexTier Oilfield Solutions by 40.1% during the 1st quarter. MetLife Investment Management LLC now owns 84,474 shares of the company's stock valued at $781,000 after purchasing an additional 24,199 shares during the last quarter. Hedge funds and other institutional investors own 76.09% of the company's stock.

Several brokerages recently issued reports on NEX. Susquehanna reduced their target price on NexTier Oilfield Solutions from $8.00 to $7.00 in a research report on Friday. Bank of America cut shares of NexTier Oilfield Solutions from a "neutral" rating to an "underperform" rating and set a $8.50 target price for the company. in a research note on Tuesday, April 18th. StockNews.com began coverage on shares of NexTier Oilfield Solutions in a research note on Thursday, May 18th. They set a "buy" rating on the stock. Citigroup lifted their price objective on shares of NexTier Oilfield Solutions from $12.00 to $12.50 and gave the stock a "buy" rating in a research note on Friday, February 17th. Finally, Piper Sandler reduced their target price on NexTier Oilfield Solutions from $14.00 to $13.00 in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.35.

NexTier Oilfield Solutions stock opened at $8.17 on Tuesday. The business's 50-day moving average price is $8.05 and its 200 day moving average price is $8.82. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 3.55, a price-to-earnings-growth ratio of 1.32 and a beta of 2.08. NexTier Oilfield Solutions Inc. has a 52 week low of $6.66 and a 52 week high of $12.50.

NexTier Oilfield Solutions (NYSE:NEX - Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. NexTier Oilfield Solutions had a net margin of 15.80% and a return on equity of 63.92%. The firm had revenue of $935.67 million during the quarter, compared to analyst estimates of $926.41 million. As a group, sell-side analysts anticipate that NexTier Oilfield Solutions Inc. will post 2.53 earnings per share for the current year.

NexTier Oilfield Solutions, Incis an oilfield service company. It offers completion solutions, hydraulic fracturing, wire line, pump down, coiled tubing, cementing, rig services, special services, and fluids management services. The company operates through the following segments: Completion Services, Well Construction and Intervention Services, and Well Support Services.

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