Newpark Resources, Inc. (NYSE:NR) has been assigned an average rating of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $33.50.
A number of brokerages recently weighed in on NR. BidaskClub lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd.
Shares of Newpark Resources (NR) opened at 8.10 on Monday. Newpark Resources has a 52-week low of $5.80 and a 52-week high of $8.75. The stock’s market capitalization is $693.42 million. The company has a 50 day moving average price of $7.55 and a 200-day moving average price of $7.63.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $183 million for the quarter, compared to analyst estimates of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. Newpark Resources’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same period last year, the company posted ($0.06) EPS. On average, analysts predict that Newpark Resources will post $0.08 earnings per share for the current fiscal year.
In other news, VP Gregg Piontek sold 34,372 shares of Newpark Resources stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $8.04, for a total transaction of $276,350.88. Following the sale, the vice president now owns 114,308 shares of the company’s stock, valued at approximately $919,036.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Matthew Lanigan sold 40,771 shares of Newpark Resources stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total transaction of $344,922.66. Following the sale, the vice president now directly owns 50,000 shares in the company, valued at approximately $423,000. The disclosure for this sale can be found here. Insiders sold a total of 241,985 shares of company stock worth $1,939,122 over the last three months. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NR. Ameriprise Financial Inc. raised its stake in Newpark Resources by 4.8% in the second quarter. Ameriprise Financial Inc. now owns 577,151 shares of the oil and gas company’s stock valued at $4,245,000 after buying an additional 26,342 shares during the last quarter. Teachers Advisors LLC raised its stake in Newpark Resources by 12.1% in the second quarter. Teachers Advisors LLC now owns 1,473,951 shares of the oil and gas company’s stock valued at $10,834,000 after buying an additional 159,017 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Newpark Resources during the second quarter valued at approximately $1,041,000. Principal Financial Group Inc. raised its stake in Newpark Resources by 5.0% in the second quarter. Principal Financial Group Inc. now owns 692,789 shares of the oil and gas company’s stock valued at $5,092,000 after buying an additional 32,887 shares during the last quarter. Finally, Buckingham Asset Management LLC raised its stake in Newpark Resources by 17.1% in the second quarter. Buckingham Asset Management LLC now owns 166,047 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 24,227 shares during the last quarter.
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Newpark Resources Company Profile
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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