NexTier Oilfield Solutions (NYSE:NEX) Price Target Cut to $7.00

NexTier Oilfield Solutions (NYSE:NEX - Get Rating) had its price target dropped by investment analysts at Susquehanna from $8.00 to $7.00 in a research report issued to clients and investors on Friday, The Fly reports. Susquehanna's price objective suggests a potential downside of 12.39% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler dropped their target price on shares of NexTier Oilfield Solutions from $14.00 to $13.00 in a research note on Monday, May 1st. Bank of America downgraded 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. Citigroup boosted their target price 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, StockNews.com initiated coverage on shares of NexTier Oilfield Solutions in a research note on Thursday, May 18th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.35.

Shares of NEX stock opened at $7.99 on Friday. NexTier Oilfield Solutions has a 12-month low of $6.66 and a 12-month high of $12.50. The company has a market capitalization of $1.84 billion, a P/E ratio of 3.47, a P/E/G ratio of 1.18 and a beta of 2.08. The firm has a 50-day moving average price of $8.02 and a 200 day moving average price of $8.87. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.36.

NexTier Oilfield Solutions (NYSE:NEX - Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $0.63 earnings per share (EPS) 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 the consensus estimate of $926.41 million. Research analysts forecast that NexTier Oilfield Solutions will post 2.53 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NEX. Envestnet Asset Management Inc. bought a new stake in shares of NexTier Oilfield Solutions during the first quarter worth approximately $173,000. Raymond James Financial Services Advisors Inc. acquired a new position in NexTier Oilfield Solutions during the first quarter valued at approximately $196,000. Bank of New York Mellon Corp grew its holdings in 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 valued at $22,189,000 after purchasing an additional 1,745,628 shares during the period. Natixis Advisors L.P. acquired a new position in NexTier Oilfield Solutions during the first quarter valued at approximately $289,000. Finally, MetLife Investment Management LLC grew its holdings in NexTier Oilfield Solutions by 40.1% during the first 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 period. 76.09% of the stock is owned by institutional investors.

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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