Wedge Capital Management L L P NC Has $83,000 Stake in NexTier Oilfield Solutions Inc. (NYSE:NEX)


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Wedge Capital Management L L P NC trimmed its stake in shares of NexTier Oilfield Solutions Inc. (NYSE:NEX) by 46.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,253 shares of the company’s stock after selling 21,119 shares during the period. Wedge Capital Management L L P NC’s holdings in NexTier Oilfield Solutions were worth $83,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Sei Investments Co. lifted its position in shares of NexTier Oilfield Solutions by 3.8% during the third quarter. Sei Investments Co. now owns 700,441 shares of the company’s stock worth $1,296,000 after purchasing an additional 25,327 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of NexTier Oilfield Solutions by 1,203.8% during the third quarter. Cubist Systematic Strategies LLC now owns 77,564 shares of the company’s stock worth $143,000 after purchasing an additional 71,615 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of NexTier Oilfield Solutions by 256.7% during the third quarter. Squarepoint Ops LLC now owns 256,350 shares of the company’s stock worth $474,000 after purchasing an additional 184,477 shares in the last quarter. CoreCommodity Management LLC acquired a new position in shares of NexTier Oilfield Solutions during the third quarter worth approximately $305,000. Finally, SIR Capital Management L.P. lifted its holdings in NexTier Oilfield Solutions by 58.6% in the third quarter. SIR Capital Management L.P. now owns 631,729 shares of the company’s stock valued at $1,169,000 after buying an additional 233,416 shares during the period. Institutional investors own 86.13% of the company’s stock.

Shares of NYSE:NEX opened at $3.90 on Thursday. NexTier Oilfield Solutions Inc. has a 52 week low of $1.00 and a 52 week high of $6.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.18 and a current ratio of 2.33. The company has a market capitalization of $836.02 million, a PE ratio of -2.14 and a beta of 3.48. The company has a 50 day moving average price of $3.52 and a two-hundred day moving average price of $2.62.

NexTier Oilfield Solutions (NYSE:NEX) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.04. NexTier Oilfield Solutions had a negative net margin of 24.38% and a negative return on equity of 27.11%. The company had revenue of $163.70 million during the quarter, compared to the consensus estimate of $169.86 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was down 63.1% compared to the same quarter last year. On average, sell-side analysts forecast that NexTier Oilfield Solutions Inc. will post -1.31 earnings per share for the current year.

Several brokerages recently weighed in on NEX. Piper Sandler increased their price objective on shares of NexTier Oilfield Solutions from $3.25 to $4.10 and gave the company a “neutral” rating in a report on Thursday, December 24th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of NexTier Oilfield Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, January 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of NexTier Oilfield Solutions from $3.00 to $4.00 in a report on Tuesday, December 15th. Smith Barney Citigroup increased their price objective on shares of NexTier Oilfield Solutions from $3.00 to $4.00 in a report on Tuesday, December 15th. Finally, Bank of America upgraded shares of NexTier Oilfield Solutions from a “neutral” rating to a “buy” rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. NexTier Oilfield Solutions currently has an average rating of “Hold” and a consensus price target of $3.45.

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's 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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Institutional Ownership by Quarter for NexTier Oilfield Solutions (NYSE:NEX)

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