Zacks Investment Research upgraded shares of Newpark Resources Inc. (NYSE:NR) from a hold rating to a buy rating in a report published on Tuesday. They currently have $7.50 price objective on the stock.
According to Zacks, “NEWPARK RESOURCES, INC. provides integrated environmental services to the oil and gas exploration and production industry in the Gulf Coast area, principally in Louisiana and Texas. “
Other equities analysts have also issued research reports about the company. Credit Suisse Group AG set a $7.00 price target on Newpark Resources and gave the company a buy rating in a research note on Monday, August 1st. Capital One Financial Corp. upgraded Newpark Resources from an equal weight rating to an overweight rating and upped their price objective for the company from $5.00 to $6.00 in a report on Wednesday, June 15th. Finally, Leerink Swann reiterated a buy rating and issued a $108.00 price objective on shares of Newpark Resources in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Newpark Resources has a consensus rating of Buy and a consensus price target of $21.18.
Shares of Newpark Resources (NYSE:NR) opened at 6.90 on Tuesday. The stock’s 50 day moving average price is $7.06 and its 200 day moving average price is $5.51. The firm’s market capitalization is $583.18 million. Newpark Resources has a one year low of $3.35 and a one year high of $7.72.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The business had revenue of $115.30 million for the quarter, compared to analyst estimates of $106.93 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. Analysts expect that Newpark Resources will post ($0.43) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in NR. Public Employees Retirement System of Ohio increased its stake in shares of Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock valued at $104,000 after buying an additional 4,203 shares during the period. Marshall Wace LLP acquired a new stake in shares of Newpark Resources during the second quarter valued at about $115,000. BlackRock Inc. increased its stake in shares of Newpark Resources by 293.0% in the second quarter. BlackRock Inc. now owns 23,392 shares of the company’s stock valued at $136,000 after buying an additional 17,440 shares during the period. Nomura Holdings Inc. increased its stake in shares of Newpark Resources by 116.8% in the second quarter. Nomura Holdings Inc. now owns 24,700 shares of the company’s stock valued at $140,000 after buying an additional 13,305 shares during the period. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Newpark Resources during the second quarter valued at about $152,000. Institutional investors own 98.74% of the company’s stock.
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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