Zacks Investment Research upgraded shares of Newpark Resources (NYSE:NR) from a sell rating to a hold rating in a report published on Friday, Zacks.com reports.
According to Zacks, “Newpark Resources, Inc. is a worldwide provider of value-added drilling fluids systems, and composite matting systems used in oilfield and other commercial markets. “
A number of other research analysts also recently commented on NR. Raymond James set a $12.00 target price on Newpark Resources and gave the company a buy rating in a research note on Wednesday, July 3rd. TheStreet downgraded Newpark Resources from a b rating to a c+ rating in a research note on Friday, April 26th. ValuEngine upgraded Newpark Resources from a sell rating to a hold rating in a research note on Thursday. Finally, SunTrust Banks set a $13.00 target price on Newpark Resources and gave the company a buy rating in a research note on Monday, April 8th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $12.00.
NYSE:NR traded down $0.03 during trading hours on Friday, hitting $7.02. 15,701 shares of the company’s stock traded hands, compared to its average volume of 414,034. The stock has a market cap of $634.94 million, a price-to-earnings ratio of 17.07 and a beta of 1.48. Newpark Resources has a twelve month low of $6.29 and a twelve month high of $11.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.81 and a current ratio of 3.57. The stock has a fifty day moving average price of $6.96.
Newpark Resources (NYSE:NR) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The firm had revenue of $216.41 million during the quarter, compared to analysts’ expectations of $216.63 million. During the same quarter last year, the firm earned $0.12 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts predict that Newpark Resources will post 0.26 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. boosted its stake in shares of Newpark Resources by 233.0% during the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 2,926 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Newpark Resources during the 1st quarter worth about $105,000. Magnus Financial Group LLC bought a new stake in shares of Newpark Resources during the 2nd quarter worth about $106,000. Campbell & CO Investment Adviser LLC bought a new stake in Newpark Resources during the 1st quarter valued at approximately $130,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Newpark Resources by 264.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 14,919 shares during the period. Hedge funds and other institutional investors own 99.69% of the company’s stock.
Newpark Resources Company Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
Recommended Story: What is a management fee?
Get a free copy of the Zacks research report on Newpark Resources (NR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Newpark Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newpark Resources and related companies with MarketBeat.com's FREE daily email newsletter.