NexTier Oilfield Solutions: Turning Profits With A Buyback Plan In Place

Summary

  • Oil services stocks are up big despite a weak tape in 2022 and slugging oil price action lately.
  • After reporting an earnings beat in October and announcing a share repurchase plan through 2023, I see upside to one small-cap energy player.
  • NexTier Oilfield will soon turn very earnings positive while free cash flow looks to jump big through 2024.
Rising prices and positive percentage price changes of Brent Crude Oil, Natural Gas and Heating Oil on a trading screen for commodities.

Torsten Asmus

Oil services stocks have crushed the S&P 500 this year. A chart making the rounds lately has been the Energy sector’s big outperformance against the underlying commodity – oil. While giving back some relative gains in the last several days, I see the trend generally

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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