5 Important Energy Stocks Making Moves After Earnings

4. NexTier Oilfield Solutions Inc. (NYSE:NEX)

Number of Hedge Fund Holders: 28

Shares of NexTier Oilfield Solutions Inc. (NYSE:NEX) rose in the pre-market trading session on Wednesday, July 27, 2022, after the Houston-based oilfield service firm swung to a profit in the second quarter.

NexTier Oilfield Solutions Inc. (NYSE:NEX) reported adjusted earnings of 39 cents per share, topping estimates of 34 cents per share. In addition, revenue for the quarter skyrocketed 189 percent versus last year to $842.9 million, easily beating the consensus of $823.38 million.

Earlier this year, investment management firm Aristotle Capital Management discussed NexTier Oilfield Solutions Inc. (NYSE:NEX) in its first-quarter 2022 investor letter, stating:

NexTier Oilfield Solutions (NYSE:NEX), a provider of hydraulic fracturing and other completion-oriented oilfield services to exploration and production companies in the U.S., benefited from rising U.S. completion activity and rising prices due to tight supply/demand fundamentals for frac equipment. We maintain a position, as we believe the company’s dedicated service agreements, solid execution and merger synergies from recent mergers and acquisitions activity can unlock additional value for shareholders in periods to come.”