SCP Investment LP Invests $74,000 in NexTier Oilfield Solutions Inc. (NYSE:NEX)

SCP Investment LP acquired a new position in NexTier Oilfield Solutions Inc. (NYSE:NEX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,000 shares of the company’s stock, valued at approximately $74,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Group AG grew its position in shares of NexTier Oilfield Solutions by 62.5% during the first quarter. UBS Group AG now owns 189,812 shares of the company’s stock worth $706,000 after purchasing an additional 72,979 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of NexTier Oilfield Solutions by 22.0% during the first quarter. Teacher Retirement System of Texas now owns 17,876 shares of the company’s stock worth $66,000 after purchasing an additional 3,228 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of NexTier Oilfield Solutions by 79.1% during the first quarter. Russell Investments Group Ltd. now owns 2,573,011 shares of the company’s stock worth $9,569,000 after purchasing an additional 1,136,770 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of NexTier Oilfield Solutions by 60.4% during the first quarter. Principal Financial Group Inc. now owns 16,507 shares of the company’s stock worth $61,000 after purchasing an additional 6,214 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of NexTier Oilfield Solutions during the first quarter worth about $133,000. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on NEX. Citigroup increased their target price on NexTier Oilfield Solutions from $4.00 to $4.50 in a research report on Wednesday, February 17th. Zacks Investment Research cut NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 14th. Morgan Stanley raised their price target on NexTier Oilfield Solutions from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Thursday, March 25th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded NexTier Oilfield Solutions from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Tuesday, April 6th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $4.44.

NYSE NEX traded up $0.30 during trading on Friday, hitting $5.23. 21,674 shares of the stock traded hands, compared to its average volume of 1,886,936. The firm has a market capitalization of $1.13 billion, a P/E ratio of -3.36 and a beta of 3.39. The company has a 50-day moving average of $4.12. The company has a quick ratio of 1.86, a current ratio of 1.99 and a debt-to-equity ratio of 0.65. NexTier Oilfield Solutions Inc. has a 12-month low of $1.58 and a 12-month high of $5.74.

NexTier Oilfield Solutions (NYSE:NEX) last posted its quarterly earnings data on Tuesday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.07. The business had revenue of $228.40 million during the quarter, compared to analyst estimates of $234.71 million. NexTier Oilfield Solutions had a negative return on equity of 48.49% and a negative net margin of 41.03%. The company’s revenue for the quarter was down 63.6% on a year-over-year basis. During the same period last year, the company earned ($0.09) EPS. Equities analysts forecast that NexTier Oilfield Solutions Inc. will post -0.71 EPS for the current fiscal year.

NexTier Oilfield Solutions Profile

NexTier Oilfield Solutions Inc, through its subsidiaries, provides well completion and production services in various active and demanding basins. The company's 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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Institutional Ownership by Quarter for NexTier Oilfield Solutions (NYSE:NEX)

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