Nextier Oilfield hits 4-month high on S&P SmallCap inclusion

Nextier Oilfield Solutions

06/03/2023 16:07

** Nextier Oilfield Solutions Inc's  NEX.N  shares up 6.7%
at $10.74, highest since Nov 11, after S&P quarterly rebalance
news
    ** NEX to join S&P SmallCap 600 index  .SPCY  effective Mon,
Mar 20, S&P Dow Jones Indices announced late Fri
    ** About 4 mln NEX shares have exchanged hands so far on the
session vs stock's 25-DMA volume of about 3.4 mln, per Refinitiv
    ** NEX had ~$2.4 bln market cap through Fri close
    ** With Mon advance, stock up ~16% YTD amid 29% gain over
the past 12 months
    ** 8 of 10 analysts covering NEX rate it "buy" or "strong
buy", 2 have "hold" recommendations, per Refinitiv; median PT of
$15.75 implies nearly 50% upside to current levels

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))