Van ECK Associates Corp boosted its position in NexTier Oilfield Solutions Inc. (NYSE:NEX) by 101.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,610,743 shares of the company’s stock after buying an additional 2,824,148 shares during the quarter. Van ECK Associates Corp’s holdings in NexTier Oilfield Solutions were worth $26,707,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of NEX. Boston Partners boosted its holdings in NexTier Oilfield Solutions by 1,026.1% in the first 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 last quarter. Russell Investments Group Ltd. boosted its holdings in NexTier Oilfield Solutions by 112.0% in the second quarter. Russell Investments Group Ltd. now owns 5,454,379 shares of the company’s stock valued at $25,961,000 after acquiring an additional 2,881,368 shares during the last quarter. Citigroup Inc. boosted its holdings in NexTier Oilfield Solutions by 5,445.4% in the second quarter. Citigroup Inc. now owns 2,439,761 shares of the company’s stock valued at $11,614,000 after acquiring an additional 2,395,765 shares during the last quarter. Caas Capital Management LP bought a new position in NexTier Oilfield Solutions during the first quarter worth about $8,568,000. Finally, BlackRock Inc. boosted its holdings in NexTier Oilfield Solutions by 13.3% during the first quarter. BlackRock Inc. now owns 13,593,777 shares of the company’s stock worth $50,570,000 after buying an additional 1,597,115 shares during the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a report on Friday, August 6th. Morgan Stanley raised their target price on NexTier Oilfield Solutions from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NexTier Oilfield Solutions has a consensus rating of “Buy” and a consensus target price of $4.98.
NexTier Oilfield Solutions (NYSE:NEX) last announced its earnings results on Wednesday, August 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.19). NexTier Oilfield Solutions had a negative return on equity of 47.57% and a negative net margin of 27.68%. The business had revenue of $292.15 million for the quarter, compared to analyst estimates of $287.74 million. During the same quarter last year, the firm earned ($0.53) EPS. NexTier Oilfield Solutions’s revenue for the quarter was up 27.9% compared to the same quarter last year. Equities analysts anticipate that NexTier Oilfield Solutions Inc. will post -0.6 EPS for the current year.
NexTier Oilfield Solutions 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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