T. Rowe Price Associates, Inc. (I… recently announced the acquisition of new stake in NexTier Oilfield Solutions Inc. (NYSE:NEX). The institutional investor has increased its shareholding in the Energy company by 48.49% to 18.08 million shares with purchase of 5.9 million shares. This fresh investment now brings its stake to 8.46% valued currently at $44.29 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.17 million to 14.74 million shares. And BlackRock Fund Advisors has lifted its position by 1.07% or 0.11 million shares – to 10.37 million shares.
With over 0.78 million NexTier Oilfield Solutions Inc. (NEX) shares trading Friday and a closing price of $2.67 on the day, the dollar volume was approximately $2.09 million. The shares have shown a positive weekly performance of 9.43% and its price on 07/24/20 lost nearly -2.91%. Currently, there are 212.84M common shares owned by the public and among those 206.91M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for NEX have a consensus price objective of $3.52. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $2.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NexTier Oilfield Solutions Inc. stock is 2.30 for the next 12 months. The average price target is 26.45% above its last price level and an upside to the estimated low will see the stock lose -33.5% over that period. But an upside of 55.5% will see the stock hit the forecast high price target while mean target price for the stock is $3.15.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 57,566 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 14,045 shares.
The top 3 mutual fund holders in NexTier Oilfield Solutions Inc. are T Rowe Price Small Cap Value Fund, T Rowe Price Small Cap Stock Fund, and Vanguard Total Stock Market Index. T Rowe Price Small Cap Value Fund owns 7.15 million shares of the company’s stock, all valued at over $17.52 million. The company bought an additional 0.5 million shares recently to bring their total holdings to about 3.35% of the shares outstanding. T Rowe Price Small Cap Stock Fund bought 0.84 million shares to see its total holdings expand to 5.12 million shares valued at over $12.54 million and representing 2.39% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 2.09% of the shares outstanding.
Shares of NexTier Oilfield Solutions Inc. (NYSE: NEX) opened at $2.76, up $0.01 from a prior closing price of $2.75. However, the script later closed the day at $2.67, down -2.91%. The company’s stock has a 5-day price change of 9.43% and 33.50% over the past three months. NEX shares are trading -60.15% year to date (YTD), with the 12-month market performance down to -51.89% lower. It has a 12-month low price of $1.00 and touched a high of $7.21 over the same period. Currently, 0.78 million shares have been traded, compared to an average intraday trading volume of 1.92 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.00%, -2.16%, and -31.70% respectively.
Institutional ownership of NexTier Oilfield Solutions Inc. (NYSE: NEX) shares accounts for 92.00% of the company’s 212.84M shares outstanding. Mutual fund holders own 34.63%, while other institutional holders and individual stakeholders account for 37.02% and 24.83% respectively.
It has a market capitalization of $570.77M and a beta (3y monthly) value of 3.51. The earnings-per-share (ttm) stands at -$0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.71% over the week and 8.69% over the month.
Analysts forecast that NexTier Oilfield Solutions Inc. (NEX) will achieve an EPS of -$0.53 for the current quarter, -$0.48 for the next quarter and -$1.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.93 while analysts give the company a high EPS estimate of -$0.35. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -259.50%, and 12.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate NexTier Oilfield Solutions Inc. (NEX) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 7 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NEX, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on March 13, 2020, with the firm’s price target at $11.50-$2.50. Evercore ISI coverage for the NexTier Oilfield Solutions Inc. (NEX) stock in a research note released on March 11, 2020 offered a In-line rating with a price target of . Citigroup was of a view on March 09, 2020 that the stock is Neutral, while BofA/Merrill gave the stock Neutral rating on March 09, 2020, issuing a price target of . Goldman on their part issued Buy rating on December 17, 2019.