Shares of Newpark Resources, Inc. (NYSE:NR) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.67.
Several brokerages have recently weighed in on NR. Zacks Investment Research lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd.
In other news, VP Matthew Lanigan sold 40,771 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total transaction of $344,922.66. Following the completion of the sale, the vice president now directly owns 50,000 shares of the company’s stock, valued at $423,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.90% of the company’s stock.
Several large investors have recently bought and sold shares of NR. Bank of Montreal Can increased its position in shares of Newpark Resources by 3.0% during the first quarter. Bank of Montreal Can now owns 219,147 shares of the oil and gas company’s stock worth $1,775,000 after acquiring an additional 6,416 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Newpark Resources by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 34,500 shares of the oil and gas company’s stock worth $279,000 after acquiring an additional 500 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Newpark Resources by 265.2% during the first quarter. Nationwide Fund Advisors now owns 264,590 shares of the oil and gas company’s stock worth $2,143,000 after acquiring an additional 192,147 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Newpark Resources by 92.3% during the first quarter. Russell Investments Group Ltd. now owns 564,224 shares of the oil and gas company’s stock worth $4,569,000 after acquiring an additional 270,863 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Newpark Resources by 4.5% during the first quarter. Great West Life Assurance Co. Can now owns 111,947 shares of the oil and gas company’s stock worth $901,000 after acquiring an additional 4,844 shares in the last quarter.
Newpark Resources (NYSE:NR) traded up 3.47% during trading on Tuesday, reaching $8.95. The company’s stock had a trading volume of 183,034 shares. Newpark Resources has a 12 month low of $5.80 and a 12 month high of $9.00. The company’s market cap is $766.19 million. The stock’s 50-day moving average is $7.91 and its 200 day moving average is $7.64.
Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm had revenue of $183.00 million for the quarter, compared to analyst estimates of $159.51 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 58.7% compared to the same quarter last year. On average, equities analysts forecast that Newpark Resources will post $0.09 EPS for the current fiscal year.
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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