Franklin Resources Inc. lessened its holdings in NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,830,652 shares of the company’s stock after selling 545,451 shares during the period. Franklin Resources Inc. owned about 4.03% of NexTier Oilfield Solutions worth $93,490,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its position in NexTier Oilfield Solutions by 0.9% during the first quarter. Boston Partners now owns 3,590,270 shares of the company’s stock valued at $33,379,000 after purchasing an additional 33,503 shares during the last quarter. Arizona State Retirement System boosted its position in NexTier Oilfield Solutions by 12.6% during the first quarter. Arizona State Retirement System now owns 49,056 shares of the company’s stock valued at $453,000 after purchasing an additional 5,505 shares during the last quarter. FDx Advisors Inc. boosted its position in NexTier Oilfield Solutions by 14.3% during the second quarter. FDx Advisors Inc. now owns 23,094 shares of the company’s stock valued at $220,000 after purchasing an additional 2,895 shares during the last quarter. Apis Capital Advisors LLC acquired a new stake in NexTier Oilfield Solutions during the first quarter valued at $3,696,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in NexTier Oilfield Solutions during the first quarter valued at $1,510,000. Institutional investors and hedge funds own 91.51% of the company’s stock.
NexTier Oilfield Solutions Trading Down 2.5 %
NexTier Oilfield Solutions stock opened at $10.17 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.30. The business’s 50-day simple moving average is $9.43 and its 200-day simple moving average is $9.53. The firm has a market capitalization of $2.50 billion, a PE ratio of 13.21 and a beta of 2.10. NexTier Oilfield Solutions Inc. has a 52 week low of $3.21 and a 52 week high of $12.50.
Analyst Upgrades and Downgrades
NEX has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective on shares of NexTier Oilfield Solutions in a research report on Friday, October 7th. Morgan Stanley cut NexTier Oilfield Solutions from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research report on Monday, September 26th. ATB Capital boosted their price target on NexTier Oilfield Solutions to $15.50 in a research report on Tuesday, August 9th. TheStreet raised NexTier Oilfield Solutions from a “c” rating to a “b-” rating in a research report on Friday, October 21st. Finally, Barclays boosted their price target on NexTier Oilfield Solutions from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.30.
NexTier Oilfield Solutions Company Profile
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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