Newpark Resources (NYSE:NR) Downgraded by ValuEngine

ValuEngine lowered shares of Newpark Resources (NYSE:NR) from a hold rating to a sell rating in a research report released on Friday, February 9th.

Several other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of Newpark Resources from a sell rating to a hold rating in a research report on Tuesday, January 16th. Cowen set a $10.00 target price on shares of Newpark Resources and gave the stock a hold rating in a report on Thursday, January 11th. Finally, SunTrust Banks upgraded shares of Newpark Resources from a hold rating to a buy rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $10.50.

Shares of Newpark Resources (NYSE:NR) traded up $0.10 during midday trading on Friday, hitting $8.50. 336,758 shares of the stock were exchanged, compared to its average volume of 446,046. The stock has a market capitalization of $749.33, a PE ratio of -121.41 and a beta of 1.54. Newpark Resources has a 1 year low of $6.40 and a 1 year high of $10.20. The company has a current ratio of 3.19, a quick ratio of 2.14 and a debt-to-equity ratio of 0.29.

Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The company had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $202.55 million. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.59%. The firm’s revenue was up 49.1% compared to the same quarter last year. sell-side analysts expect that Newpark Resources will post 0.4 earnings per share for the current fiscal year.

In related news, Director G Stephen Finley sold 2,823 shares of Newpark Resources stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $9.07, for a total transaction of $25,604.61. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 23,423 shares of company stock valued at $208,876 in the last quarter. 4.90% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund increased its position in Newpark Resources by 2.5% during the 2nd quarter. New York State Common Retirement Fund now owns 78,600 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 1,899 shares during the period. Cubist Systematic Strategies LLC increased its position in Newpark Resources by 24.8% during 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 purchasing an additional 3,730 shares during the period. Voya Investment Management LLC increased its position in Newpark Resources by 9.9% during the 2nd quarter. Voya Investment Management LLC now owns 43,922 shares of the oil and gas company’s stock valued at $323,000 after purchasing an additional 3,958 shares during the period. Heartland Advisors Inc. grew its position in shares of Newpark Resources by 0.7% in the 4th quarter. Heartland Advisors Inc. now owns 808,880 shares of the oil and gas company’s stock worth $6,956,000 after buying an additional 5,804 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of Newpark Resources by 19.5% in the 3rd quarter. Aperio Group LLC now owns 41,559 shares of the oil and gas company’s stock worth $416,000 after buying an additional 6,778 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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