Rhumbline Advisers reduced its holdings in NexTier Oilfield Solutions Inc. (NYSE:NEX) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,458 shares of the company’s stock after selling 28,219 shares during the quarter. Rhumbline Advisers’ holdings in NexTier Oilfield Solutions were worth $1,302,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners increased its position in NexTier Oilfield Solutions by 1,026.1% in the 1st quarter. Boston Partners now owns 3,690,158 shares of the company’s stock valued at $13,567,000 after acquiring an additional 3,362,465 shares during the period. IndexIQ Advisors LLC acquired a new stake in NexTier Oilfield Solutions in the 1st quarter valued at approximately $405,000. SG Americas Securities LLC acquired a new stake in NexTier Oilfield Solutions in the 1st quarter valued at approximately $143,000. Caas Capital Management LP bought a new position in NexTier Oilfield Solutions during the 1st quarter valued at $8,568,000. Finally, SCP Investment LP bought a new position in NexTier Oilfield Solutions during the 1st quarter valued at $74,000. Hedge funds and other institutional investors own 87.05% of the company’s stock.
NEX opened at $4.90 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of -4.22 and a beta of 3.37. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $3.84 and a 200-day simple moving average of $4.18. NexTier Oilfield Solutions Inc. has a fifty-two week low of $1.63 and a fifty-two week high of $5.84.
In other news, CAO Burns Lamphung Ngo sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $4.14, for a total transaction of $103,500.00. Following the completion of the sale, the chief accounting officer now directly owns 40,600 shares of the company’s stock, valued at approximately $168,084. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research note on Friday, August 6th. Morgan Stanley increased their price target on NexTier Oilfield Solutions from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $4.98.
NexTier Oilfield Solutions Company Profile
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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