Loop Capital began coverage on shares of Newpark Resources Inc. (NYSE:NR) in a report released on Friday, The Fly reports. The brokerage issued a hold rating on the stock.
Other research analysts have also issued reports about the stock. Credit Suisse Group AG set a $7.00 price target on shares of Newpark Resources and gave the company a buy rating in a research note on Monday, August 1st. Zacks Investment Research raised shares of Newpark Resources from a hold rating to a buy rating and set a $6.50 price target on the stock in a research note on Wednesday, July 6th. Capital One Financial Corp. raised shares of Newpark Resources from an equal weight rating to an overweight rating and raised their price target for the company from $5.00 to $6.00 in a research note on Wednesday, June 15th. Finally, Leerink Swann reaffirmed a buy rating and issued a $108.00 price target on shares of Newpark Resources in a research note on Thursday, August 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $21.18.
Shares of Newpark Resources (NYSE:NR) opened at 7.36 on Friday. The company’s market capitalization is $622.06 million. The firm’s 50-day moving average price is $7.10 and its 200 day moving average price is $5.69. Newpark Resources has a 52 week low of $3.35 and a 52 week high of $7.72.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.09. The company had revenue of $115.30 million for the quarter, compared to the consensus estimate of $106.93 million. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. Equities analysts predict that Newpark Resources will post ($0.43) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NR. Dalton Greiner Hartman Maher & Co. acquired a new position in Newpark Resources during the second quarter worth $1,669,000. BNP Paribas Arbitrage SA increased its stake in shares of Newpark Resources by 86.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,625 shares of the company’s stock worth $160,000 after buying an additional 12,818 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Newpark Resources by 4.9% in the first quarter. Arizona State Retirement System now owns 43,071 shares of the company’s stock worth $186,000 after buying an additional 2,000 shares in the last quarter. ZPR Investment Management purchased a new stake in shares of Newpark Resources during the first quarter worth about $1,853,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Newpark Resources by 36.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 86,886 shares of the company’s stock worth $375,000 after buying an additional 23,209 shares in the last quarter. 98.74% of the stock is currently owned by institutional investors and hedge funds.
Newpark Resources Company Profile
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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