Cowen set a $10.00 price objective on Newpark Resources (NYSE:NR) in a research note issued to investors on Thursday morning. The brokerage currently has a hold rating on the oil and gas company’s stock.
Several other analysts have also commented on NR. Zacks Investment Research raised shares of Newpark Resources from a hold rating to a buy rating and set a $11.00 target price for the company in a research note on Tuesday, October 24th. SunTrust Banks upgraded shares of Newpark Resources from a hold rating to a buy rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Newpark Resources has an average rating of Hold and a consensus price target of $10.50.
Newpark Resources (NYSE NR) traded up $0.25 during mid-day trading on Thursday, reaching $9.85. Newpark Resources has a one year low of $6.40 and a one year high of $10.20. The company has a market capitalization of $845.49, a price-to-earnings ratio of 246.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 1.96.
Newpark Resources (NYSE:NR) last released its earnings results on Monday, October 30th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The business had revenue of $201.70 million for the quarter, compared to analyst estimates of $192.57 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 92.8% on a year-over-year basis. research analysts expect that Newpark Resources will post 0.06 EPS for the current fiscal year.
In related news, Director G Stephen Finley sold 11,300 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $8.79, for a total value of $99,327.00. Following the completion of the sale, the director now owns 192,658 shares in the company, valued at approximately $1,693,463.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Anderson sold 17,000 shares of the company’s stock in a transaction that occurred 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. In the last 90 days, insiders sold 40,423 shares of company stock valued at $360,346. 4.90% of the stock is owned by insiders.
Several large investors have recently modified their holdings of NR. BlueCrest Capital Management Ltd acquired a new position in Newpark Resources in the 2nd quarter valued at approximately $100,000. GSA Capital Partners LLP acquired a new position in Newpark Resources in the 3rd quarter valued at approximately $113,000. Raymond James Financial Services Advisors Inc. acquired a new position in Newpark Resources in the 3rd quarter valued at approximately $114,000. Cubist Systematic Strategies LLC increased its stake in Newpark Resources by 24.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 3,730 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in Newpark Resources in the 2nd quarter valued at approximately $141,000.
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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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