ValuEngine Downgrades Newpark Resources (NR) to Hold

Newpark Resources (NYSE:NR) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, September 28th. Credit Suisse Group lifted their price target on Newpark Resources from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, July 30th. Finally, TheStreet raised Newpark Resources from a “c+” rating to a “b-” rating in a report on Tuesday, June 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $11.00.

Shares of NYSE NR traded down $0.05 during midday trading on Wednesday, reaching $9.49. 85,623 shares of the company traded hands, compared to its average volume of 487,872. The stock has a market cap of $884.75 million, a PE ratio of 94.90 and a beta of 1.41. Newpark Resources has a 12 month low of $7.45 and a 12 month high of $11.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 3.91.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $236.30 million during the quarter, compared to analysts’ expectations of $227.33 million. Newpark Resources had a return on equity of 4.74% and a net margin of 1.30%. The business’s revenue was up 29.1% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. Analysts predict that Newpark Resources will post 0.42 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its holdings in shares of Newpark Resources by 30.1% in the second quarter. Advisors Asset Management Inc. now owns 28,041 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 6,486 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Newpark Resources by 7.1% in the second quarter. Citadel Advisors LLC now owns 124,345 shares of the oil and gas company’s stock valued at $1,349,000 after buying an additional 8,204 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Newpark Resources by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 119,927 shares of the oil and gas company’s stock valued at $971,000 after buying an additional 8,449 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Newpark Resources by 0.3% in the first quarter. Northern Trust Corp now owns 3,006,810 shares of the oil and gas company’s stock valued at $24,356,000 after buying an additional 8,471 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Newpark Resources by 5.5% in the second quarter. Legal & General Group Plc now owns 189,497 shares of the oil and gas company’s stock valued at $2,064,000 after buying an additional 9,834 shares during the last quarter. 97.98% of the stock is owned by institutional investors and hedge funds.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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