NexTier Oilfield Solutions Inc. (NYSE:NEX) shares saw an uptick in trading volume on Tuesday after Wells Fargo & Co raised their price target on the stock from $8.00 to $8.50. Wells Fargo & Co currently has an outperform rating on the stock. 93,745 shares traded hands during trading, a decline of 95% from the previous session’s volume of 2,015,061 shares.The stock last traded at $5.04 and had previously closed at $5.08.
Other equities analysts have also recently issued reports about the company. Citigroup assumed coverage on NexTier Oilfield Solutions in a report on Wednesday, November 27th. They issued a “buy” rating and a $5.80 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $12.00 price objective on shares of NexTier Oilfield Solutions in a research report on Wednesday, November 13th. Zacks Investment Research cut NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, ValuEngine downgraded shares of NexTier Oilfield Solutions from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. NexTier Oilfield Solutions currently has an average rating of “Buy” and an average target price of $8.26.
An institutional investor recently bought a new position in NexTier Oilfield Solutions stock. Public Employees Retirement System of Ohio bought a new stake in NexTier Oilfield Solutions Inc. (NYSE:NEX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,685 shares of the company’s stock, valued at approximately $156,000. 88.40% of the stock is currently owned by institutional investors.
About NexTier Oilfield Solutions (NYSE:NEX)
NexTier Oilfield Solutions Inc provides integrated well completion services primarily in the United States. Its principal service offerings include horizontal and vertical fracturing, wireline perforation and logging, and engineered solutions. The company also provides cementing and drilling services; and engineering software and technical guidance for remedial cementing applications and acidizing.
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