NexTier Oilfield downgraded by BofA Securities with a new price target
$NEX
Oilfield Services/Equipment
Energy
BofA Securities downgraded NexTier Oilfield from Neutral to Underperform and set a new price target of $8.50
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/16/2023 | $9.50 → $9.75 | Buy → Neutral | Citigroup |
| 4/18/2023 | $8.50 | Neutral → Underperform | BofA Securities |
| 12/9/2022 | $19.00 | Strong Buy | Raymond James |
| 10/7/2022 | $12.00 | Overweight | Piper Sandler |
| 9/26/2022 | $13.00 | Overweight → Equal-Weight | Morgan Stanley |
| 7/15/2022 | $12.50 → $9.50 | Buy → Neutral | BofA Securities |
| 3/4/2022 | $7.70 → $9.00 | Neutral | Susquehanna |
| 2/28/2022 | $7.00 → $8.00 | Overweight | Morgan Stanley |
HOUSTON, TX / ACCESSWIRE / August 30, 2023 / Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI") and NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier") today announced that, at separate special meetings held earlier today, both companies' shareholders voted in favor of all proposals necessary for the closing of the previously announced all-stock merger of equals transaction.Andy Hendricks, Chief Executive Officer of Patterson-UTI, commented, "We are pleased with the overwhelming support of shareholders for our pending transaction with NexTier. Today's shareholder approval is an important milestone in the process of bringing together our complementary organizations. We look forward
NEW YORK, Aug. 28, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600 effective prior to the opening of trading on Friday, September 1: Goosehead Insurance Inc. (NASD: GSHD) will replace NuVasive Inc. (NASD: NUVA) in the S&P SmallCap 600. S&P MidCap 400 constituent Globus Medical Inc. (NYSE:GMED) is acquiring NuVasive in a deal expected to close soon pending final conditions.Jackson Financial Inc. (NYSE:JXN) will replace NexTier Oilfield Solutions Inc. (NYSE:NEX) in the S&P SmallCap 600. S&P SmallCap 600 constituent Patterson-UTI Energy Inc. (NASD: PTEN) is acquiring NexTier Oilfield Solutions in a deal expected to close soon pending final cond
HOUSTON, Aug. 17, 2023 /PRNewswire/ -- Surge Energy US Holdings Company ("Surge" or the "Company") announces jointly with NexTier Oilfield Solutions ("NexTier") record-breaking completion efficiency in the second quarter as well as emissions reductions. Surge has utilized a NexTier completion crew as the Company's dedicated crew since the fourth quarter of 2022. In the second quarter of 2023, the NexTier crew set a Surge quarterly company record for the highest completed lateral feet per day at 2,733. For the year the Company has achieved over 2,650 lateral feet per day average. This efficiency results in reduced cycle times that accelerate wells online as well as substantial cost savings
Citigroup downgraded NexTier Oilfield from Buy to Neutral and set a new price target of $9.75 from $9.50 previously
BofA Securities downgraded NexTier Oilfield from Neutral to Underperform and set a new price target of $8.50
Raymond James initiated coverage of NexTier Oilfield with a rating of Strong Buy and set a new price target of $19.00
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Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI") and NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier") today announced that, at separate special meetings held earlier today, both companies' shareholders voted in favor of all proposals necessary for the closing of the previously announced all-stock merger of equals transaction. Andy Hendricks, Chief Executive Officer of Patterson-UTI, commented, "We are pleased with the overwhelming support of shareholders for our pending transaction with NexTier. Today's shareholder approval is an important milestone in the process of bringing together our complementary organizations. We look forward to closing the transaction and creating a
Market bulls have been running victory laps this year, as they've pushed the broad market SPDR S&P 500 ETF Trust (NYSE:SPY) more than 16% higher through the first half of 2023. Outside of that, ETF stalwarts like the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) went 20% higher and the tech stocks that live in them — namely Nvidia Corp (NASDAQ:NVDA) — gained as much as 187% in the same time frame. But not everyone is a market bull and it looks like famed "The Big Short" investor Michael Burry isn't one of them. What Happened: Burry’s Scion Capital hedge fund took a bearish stance on both the broader market and the tech sector in the second quarter, with sizable puts on S&P 500 and the QQQ
- Conference Call
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HOUSTON, July 25, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported second quarter 2023 financial and operational results. Shareholder return program Repurchased 2.3 million shares for $17.9 million in the second quarter of 2023Through Q2, repurchased a total of 19.7 million shares for $184.2 million, representing 8% of shares outstanding before the commencement of the program in October 2022Second Quarter 2023 Results and Recent Highlights Total revenue of $945.1 million, a 1% sequential increaseNet income of $150.1 million, or $0.64 per diluted share, compared to $254.0 million, or $1.07 per diluted share in the prior quarter. Net
HOUSTON, June 27, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today announced that it will release its second quarter 2023 financial and operating results after market close on Tuesday, July 25, 2023. This release will be followed by a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) on Wednesday, July 26, 2023. Hosting the call will be Robert Drummond, President and Chief Executive Officer and Kenneth Pucheu, Executive Vice President and Chief Financial Officer. The call can be accessed via a live webcast accessible on the IR Event Calendar page in the Investor Relations section of our website at www.nextierofs.com, or liv
Comprehensive U.S. Oilfield Services Franchise to Enhance Drilling and Completions Value Creation Potential and Maximize Returns for Shareholders Combined $5.4 Billion Total Enterprise Value Drives Improved Free Cash Flow Generation and Strong Balance Sheet to Deliver Long Term Value to Shareholders, Including Continued Commitment to Shareholder Return Program Expected to be Accretive to Earnings per Share and Free Cash Flow per Share in 2024 Expected to Generate Approximately $200 Million of Annual Cost Savings and Operational Synergies Within 18 Months Following Close Curtis Huff to Serve as Chair of the Board; Robert Drummond to Serve as Vice Chair of the Board; Andy Hendricks to Serve a