NexTier Oilfield Solutions Inc. [NYSE: NEX] stock went on an upward path that rose over 6.39% on Tuesday, amounting to a one-week price increase of more than 16.22%. The company report on June 10, 2021 that NexTier Announces Successful Field Test of Natural Gas-Powered eFrac Engines, Advancing and Expanding Low-Cost, Low-Carbon Strategy.
NexTier Oilfield Solutions Inc. (NYSE: NEX) (“NexTier” or the “Company”) announced its latest achievement in providing low-cost, low-carbon solutions to the oil and gas industry. NexTier recently field tested the NOV Ideal eFrac pump with power sourced from multiple natural gas reciprocating engines. The Ideal eFrac Pump and natural gas reciprocating engines were deployed on a simul-frac operation in West Texas for a major operator and were fueled with customer-supplied field gas. The natural gas reciprocating engine will be the primary power source for the first NOV Ideal eFrac Fleet, which is expected to be deployed by NexTier and NOV in the first half of 2022.
The reciprocating engines supplied by Caterpillar Inc. can output 2.5 MW of power at 13.8 kV. Mounted on a standard trailer, this scalable power solution provides leading emissions reduction for a wellsite-based power source. Embedded in each unit is a control system that enables automatic load sharing across multiple engines. The reciprocating engines require minimal maintenance and are not hampered by emissions derating due to temperature and elevation. Field tests are ongoing and will be performed in multiple shale basins in the coming weeks.
Over the last 12 months, NEX stock rose by 85.57%. The one-year NexTier Oilfield Solutions Inc. stock forecast points to a potential downside of -9.9. The average equity rating for NEX stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.13 billion, with 215.11 million shares outstanding and 197.15 million shares in the current float. Compared to the average trading volume of 1.94M shares, NEX stock reached a trading volume of 2164723 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on NexTier Oilfield Solutions Inc. [NEX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEX shares is $5.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEX stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for NexTier Oilfield Solutions Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 03, 2021. The new note on the price target was released on April 06, 2021, representing the official price target for NexTier Oilfield Solutions Inc. stock.
The Average True Range (ATR) for NexTier Oilfield Solutions Inc. is set at 0.32, with the Price to Sales ratio for NEX stock in the period of the last 12 months amounting to 1.41. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 1.36.
NEX Stock Performance Analysis:
NexTier Oilfield Solutions Inc. [NEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.22. With this latest performance, NEX shares gained by 22.51% in over the last four-week period, additionally plugging by 45.50% over the last 6 months – not to mention a rise of 85.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEX stock in for the last two-week period is set at 69.43, with the RSI for the last a single of trading hit 73.20, and the three-weeks RSI is set at 66.46 for NexTier Oilfield Solutions Inc. [NEX]. The present Moving Average for the last 50 days of trading for this stock 4.21, while it was recorded at 5.18 for the last single week of trading, and 3.41 for the last 200 days.
Insight into NexTier Oilfield Solutions Inc. Fundamentals:
NexTier Oilfield Solutions Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.00.
NEX Stock EPS
With the latest financial reports released by the company, NexTier Oilfield Solutions Inc. posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEX.
NexTier Oilfield Solutions Inc. [NEX] Insider Position Details
There are presently around $1,284 million, or 87.90% of NEX stock, in the hands of institutional investors. The top three institutional holders of NEX stocks are: FEINBERG STEPHEN with ownership of 40,083,179, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; CERBERUS CAPITAL MANAGEMENT, L.P., holding 33,355,308 shares of the stock with an approximate value of $188.79 million in NEX stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $118.82 million in NEX stock with ownership of nearly 0.967% of the company’s market capitalization.
76 institutional holders increased their position in NexTier Oilfield Solutions Inc. [NYSE:NEX] by around 16,328,702 shares. Additionally, 61 investors decreased positions by around 14,972,498 shares, while 26 investors held positions by with 195,508,356 shares. The mentioned changes placed institutional holdings at 226,809,556 shares, according to the latest SEC report filing. NEX stock had 34 new institutional investments in for a total of 5,543,674 shares, while 10 institutional investors sold positions of 2,756,177 shares during the same period.