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. As of December 31, 2020, it had approximately 37 hydraulic fracturing fleets, 116 wireline trucks, and 80 pumpdown units. The company's Well Construction and Intervention Services segment provides cementing services that incorporate custom engineered mixing and blending equipment to ensure precision and accuracy in providing annulus isolation and hydraulic seal, while protecting fresh water zones from our customers' zone of interest; and engineering software and technical guidance for remedial cementing applications, and acidizing to optimize the performance of its customers' wells. It also offers coiled tubing services to help customers in accomplishing various goals in their horizontal completion, workover, and well maintenance projects. As of December 31, 2020, this segment had approximately 25 coiled tubing units and 101 cementing units. The company serves integrated and large independent oil and natural gas exploration and production companies in the United States and internationally. NexTier Oilfield Solutions Inc. was founded in 1973 and is headquartered in Houston, Texas.
IPO Year: 2017
Exchange: NYSE
Website: nextierofs.com
| 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 |
| 2/23/2022 | $6.00 → $7.70 | Neutral | Susquehanna |
| 2/23/2022 | $7.00 → $8.00 | Buy | Stifel |
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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
HOUSTON, TX / ACCESSWIRE / July 28, 2023 / Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI") and NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with the previously announced all-stock merger of equals transaction.The expiration of the waiting period under the HSR Act satisfies one condition needed to close the merger, which remains on track to occur this year. The transaction remains subject to Patterson-UTI and NexTier shareholder approvals and satisfaction of other customary closing conditions.About Patterson-UTIPatterson-UTI is
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
NEW YORK, June 24, 2023 (GLOBE NEWSWIRE) -- Surface Oncology, Inc. (NASDAQ:SURF) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of SURF to Coherus BioSciences, Inc. Under the terms of the agreement, SURF shareholders will receive Cohreus BioSciences, Inc. common stock at a price of $5.2831 per share for each share of SURF common stock owned. SURF shareholders will also receive certain CVRs as part of the agreement. If you are a SURF investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail
HOUSTON, June 20, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (the "Company") announced that Robert W. Drummond, the Company's President and Chief Executive Officer, will present at the J.P. Morgan Energy, Power & Renewables Conference on Thursday, June 22, 2023, at 1:10 p.m. ET. Joining Mr. Drummond will be Patterson-UTI President and Chief Executive Officer Andy Hendricks. During the fireside chat, Mr. Drummond and Mr. Hendricks will discuss the recently announced plan to combine NexTier and Patterson-UTI in a merger of equals transaction. This fireside chat will be accessible via webcast on the IR Event Calendar page in the Investor Relations section of the Company's website at
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
HOUSTON, April 25, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported first quarter 2023 financial and operational results. Shareholder return program Repurchased 5.9 million shares for $53.4 million in the first quarter of 2023Through Q1, repurchased a total of 17.4 million shares for $166.4 million, representing 7% of shares outstanding prior to commencement of the program in October 2022First Quarter 2023 Results and Recent Highlights Total revenue of $935.7 million, a 7% sequential increaseNet income of $254.0 million, or $1.07 per diluted share, compared to $133.0 million, or $0.54 per diluted share in the prior quarter. Net inco
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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
Piper Sandler resumed coverage of NexTier Oilfield with a rating of Overweight and set a new price target of $12.00
Morgan Stanley downgraded NexTier Oilfield from Overweight to Equal-Weight and set a new price target of $13.00
BofA Securities downgraded NexTier Oilfield from Buy to Neutral and set a new price target of $9.50 from $12.50 previously
Susquehanna reiterated coverage of NexTier Oilfield with a rating of Neutral and set a new price target of $9.00 from $7.70 previously
Morgan Stanley reiterated coverage of NexTier Oilfield with a rating of Overweight and set a new price target of $8.00 from $7.00 previously
Susquehanna reiterated coverage of NexTier Oilfield with a rating of Neutral and set a new price target of $7.70 from $6.00 previously
Stifel reiterated coverage of NexTier Oilfield with a rating of Buy and set a new price target of $8.00 from $7.00 previously
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
HOUSTON, April 25, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported first quarter 2023 financial and operational results. Shareholder return program Repurchased 5.9 million shares for $53.4 million in the first quarter of 2023Through Q1, repurchased a total of 17.4 million shares for $166.4 million, representing 7% of shares outstanding prior to commencement of the program in October 2022First Quarter 2023 Results and Recent Highlights Total revenue of $935.7 million, a 7% sequential increaseNet income of $254.0 million, or $1.07 per diluted share, compared to $133.0 million, or $0.54 per diluted share in the prior quarter. Net inco
HOUSTON, April 3, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today announced that it will release its first quarter 2023 financial and operating results after market close on Tuesday, April 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, April 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 a
HOUSTON, Feb. 15, 2023 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported fourth quarter and full year 2022 financial and operational results. Shareholder return program Repurchased 11.5 million shares for $113.0 million in the fourth quarter of 2022Including fourth quarter of 2022 repurchases and through February 14, 2023, repurchased a total of 14.4 million shares for $139.2 million, representing 5.8% of shares outstanding prior to commencement of the program in October 2022Full Year 2022 Results Total Revenue of $3.24 billion, up 128% year-over-yearNet Income of $315.0 million ($1.26 per diluted share) compared to a Net Loss of $119.4 m
HOUSTON, Dec. 20, 2022 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today announced that it will release its fourth quarter 2022 financial and operating results after market close on Wednesday, February 15, 2023. This release will be followed by a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) on Thursday, February 16, 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.co
HOUSTON, Oct. 25, 2022 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported third quarter 2022 financial and operational results and announced a $250 million shareholder return program. Third Quarter 2022 Results and Recent Highlights Initiates shareholder return program with share repurchase authorization of up to $250 million through December 31, 2023Total revenue of $896.0 million, a 6% sequential increase and up 128% year-over-yearNet income of $104.7 million ($0.42 per diluted share), compared to $68.5 million ($0.27 per diluted share) in the prior quarter and net loss of $44.0 million in third quarter of 2021Adjusted net income(1) of $
HOUSTON, Sept. 26, 2022 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today announced that it will release its third quarter 2022 financial and operating results after market close on Tuesday, October 25, 2022. This release will be followed by a conference call at 10:00 a.m. Central Time (11:00 a.m. Eastern Time) on Wednesday, October 26, 2022. 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,
HOUSTON, July 26, 2022 /PRNewswire/ -- NexTier Oilfield Solutions Inc. (NYSE:NEX) ("NexTier" or the "Company") today reported second quarter 2022 financial and operational results. Second Quarter 2022 Results and Recent Highlights Total revenue of $842.9 million, a 33% sequential increase and 189% year-over-yearAchieved fifth consecutive quarter of 25%+ revenue growthNet income of $68.5 million ($0.27 per diluted share), compared to $8.8 million ($0.04 per diluted share) in the prior quarter and net loss of $31.8 million in second quarter of 2021Adjusted net income(1) of $98.5 million ($0.39 per diluted share), compared to $20.8 million ($0.08 per diluted share) in the prior quarter and adj
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
NexTier Oilfield (NYSE:NEX) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.63 by 7.94 percent. This is a 74.36 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $945.10 million which missed the analyst consensus estimate of $954.74 million by 1.01 percent. This is a 12.12 percent increase over sales of $842.91 million the same period last year.
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NexTier Oilfield (NYSE:NEX) is set to give its latest quarterly earnings report on Tuesday, 2023-07-25. Here's what investors need to know before the announcement. Analysts estimate that NexTier Oilfield will report an earnings per share (EPS) of $0.63. NexTier Oilfield bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company beat EPS by $0.05, which was followed by a 6.72% drop in the s
Citigroup analyst Scott Gruber maintains NexTier Oilfield (NYSE:NEX) with a Neutral and raises the price target from $9.75 to $11.3.
Over the past 3 months, 8 analysts have published their opinion on NexTier Oilfield (NYSE:NEX) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2 2 1 0 Last 30D 1 0 0 0 0 1M Ago 1 0 1 0 0 2M Ago 0 1 1 0 0 3M Ago 1 1 0 1 0 According to 8 analyst offering 12-month price targets in the last 3 months, NexTier Oilfield has an average price target of $11.59 with a high of $16.00 and a low of $7.00. Below is a summary of how these 8 analysts rated NexTier Oilfield over th
Stifel analyst Stephen Gengaro maintains NexTier Oilfield (NYSE:NEX) with a Buy and lowers the price target from $18 to $16.