Zacks Investment Research upgraded shares of Newpark Resources (NYSE:NR) from a sell rating to a hold rating in a research report sent to investors on Tuesday, January 16th.
According to Zacks, “Newpark Resources, Inc. and its subsidiaries, provides products and services primarily to the oil and gas exploration and production industry. The company operates through two segments, Fluids Systems and Mats and Integrated Services. The Fluids Systems segment offers drilling fluids products and technical services for technical drilling projects involving complex subsurface conditions, including horizontal, directional, geologically deep or deep water drilling. This segment also grinds barite and other industrial minerals. The Mats and Integrated Services segment provides composite mat rentals, well site construction, and related site services to oil and gas customers at well, production, transportation, and refinery locations. The company operates in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. “
NR has been the topic of a number of other reports. Cowen set a $9.00 price target on shares of Newpark Resources and gave the company a hold rating in a research note on Friday, October 6th. SunTrust Banks raised shares of Newpark Resources from a hold rating to a buy rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $10.50.
Shares of Newpark Resources (NR) traded down $0.10 during midday trading on Tuesday, hitting $7.90. 520,625 shares of the stock traded hands, compared to its average volume of 421,479. Newpark Resources has a 1-year low of $6.40 and a 1-year high of $10.20. The firm has a market capitalization of $678.11, a price-to-earnings ratio of -112.84 and a beta of 1.54. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, February 8th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.62%. The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $202.55 million. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. equities analysts expect that Newpark Resources will post 0.43 EPS for the current fiscal year.
In other news, Director G Stephen Finley sold 2,823 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $9.07, for a total value of $25,604.61. Following the completion of the transaction, the director now owns 176,235 shares in the company, valued at approximately $1,598,451.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David C. Anderson sold 17,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the completion of the sale, the director now owns 170,841 shares of the company’s stock, valued at approximately $1,522,193.31. The disclosure for this sale can be found here. Insiders have sold a total of 40,423 shares of company stock valued at $360,346 in the last quarter. 4.90% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Daruma Capital Management LLC increased its holdings in shares of Newpark Resources by 221.1% in the 2nd quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock valued at $42,852,000 after purchasing an additional 4,014,692 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Newpark Resources by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,088,225 shares of the oil and gas company’s stock valued at $35,158,000 after purchasing an additional 533,813 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Newpark Resources by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock valued at $57,266,000 after purchasing an additional 393,328 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Newpark Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,467,396 shares of the oil and gas company’s stock valued at $54,886,000 after purchasing an additional 347,306 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Newpark Resources by 101.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 595,534 shares of the oil and gas company’s stock valued at $4,377,000 after purchasing an additional 300,060 shares in the last quarter.
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About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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