TheStreet downgraded shares of Newpark Resources (NYSE:NR) from a b- rating to a c+ rating in a report issued on Monday morning.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Newpark Resources from a hold rating to a buy rating in a report on Wednesday, August 22nd. Zacks Investment Research raised shares of Newpark Resources from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Friday, September 28th. Finally, Credit Suisse Group boosted their price objective on shares of Newpark Resources from $11.00 to $12.00 and gave the stock an outperform rating in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Newpark Resources has a consensus rating of Hold and a consensus price target of $11.00.
Shares of Newpark Resources stock opened at $8.12 on Monday. Newpark Resources has a 52-week low of $7.27 and a 52-week high of $11.65. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.32. The stock has a market cap of $721.92 million, a PE ratio of 23.38 and a beta of 1.41.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Newpark Resources had a return on equity of 5.56% and a net margin of 1.36%. The firm had revenue of $235.33 million for the quarter, compared to analyst estimates of $237.08 million. Equities analysts anticipate that Newpark Resources will post 0.41 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Newpark Resources by 5.7% during the first quarter. Principal Financial Group Inc. now owns 717,221 shares of the oil and gas company’s stock worth $5,809,000 after purchasing an additional 38,879 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Newpark Resources by 156.2% during the first quarter. Cubist Systematic Strategies LLC now owns 32,840 shares of the oil and gas company’s stock worth $266,000 after purchasing an additional 20,023 shares during the last quarter. Legal & General Group Plc increased its position in Newpark Resources by 6.2% during the first quarter. Legal & General Group Plc now owns 179,663 shares of the oil and gas company’s stock worth $1,450,000 after purchasing an additional 10,424 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Newpark Resources during the first quarter worth approximately $398,000. Finally, Allianz Asset Management GmbH acquired a new position in Newpark Resources during the first quarter worth approximately $1,056,000. 99.27% 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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