NexTier Oilfield Solutions (NEX) Moves 6.7% Higher: Will This Strength Last?
NexTier Oilfield Solutions (NEX) shares rallied 6.7% in the last trading session to close at $9.52. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 15.5% gain over the past four weeks.
With rising commodity prices, exploration and production companies will see a rising demand for oil field services. This is beneficial for NexTier Oilfield Solutions since it is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across active and demanding basins.
This company is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of +84.6%. Revenues are expected to be $967.62 million, up 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For NexTier Oilfield Solutions, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
NexTier Oilfield Solutions belongs to the Zacks Oil and Gas - Field Services industry. Another stock from the same industry, Tetra Technologies (TTI), closed the last trading session 2.1% higher at $2.92. Over the past month, TTI has returned 4%.
Tetra Technologies' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of +60%. Tetra Technologies currently boasts a Zacks Rank of #4 (Sell).
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NexTier Oilfield Solutions Inc. (NEX) : Free Stock Analysis Report
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