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. “
A number of other brokerages have also weighed in on NR. Credit Suisse Group AG started coverage on shares of Newpark Resources in a research note on Monday, July 18th. They issued an outperform rating and a $7.00 price target for the company. Capital One Financial Corp. raised shares of Newpark Resources from an equal weight rating to an overweight rating and upped their price target for the stock from $5.00 to $6.00 in a research note on Wednesday, June 15th. 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. Finally, Loop Capital started coverage on shares of Newpark Resources in a research note on Friday, September 30th. They issued a hold rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $21.18.
Shares of Newpark Resources (NYSE:NR) opened at 7.40 on Tuesday. The firm’s market cap is $625.44 million. The company’s 50-day moving average is $7.11 and its 200-day moving average is $5.74. Newpark Resources has a 12 month low of $3.35 and a 12 month high of $7.73.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.09. The company earned $115.30 million during the quarter, compared to analyst estimates of $106.93 million. Newpark Resources had a negative net margin of 21.47% and a negative return on equity of 6.09%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, equities research analysts forecast that Newpark Resources will post ($0.43) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Ngam Advisors L.P. increased its stake in Newpark Resources by 48.9% in the first quarter. Ngam Advisors L.P. now owns 351,264 shares of the company’s stock worth $1,517,000 after buying an additional 115,370 shares during the last quarter. BlackRock Fund Advisors increased its stake in Newpark Resources by 1.5% in the first quarter. BlackRock Fund Advisors now owns 5,665,901 shares of the company’s stock worth $24,477,000 after buying an additional 85,153 shares during the last quarter. Royce & Associates LP increased its stake in Newpark Resources by 16.1% in the first quarter. Royce & Associates LP now owns 2,757,931 shares of the company’s stock worth $11,914,000 after buying an additional 381,500 shares during the last quarter. Geode Capital Management LLC increased its stake in Newpark Resources by 9.2% in the first quarter. Geode Capital Management LLC now owns 574,374 shares of the company’s stock worth $2,481,000 after buying an additional 48,363 shares during the last quarter. Finally, Bogle Investment Management L P DE increased its stake in Newpark Resources by 69.4% in the first quarter. Bogle Investment Management L P DE now owns 335,165 shares of the company’s stock worth $1,447,000 after buying an additional 137,303 shares during the last quarter. Institutional investors and hedge funds own 98.74% of the company’s stock.
About Newpark Resources
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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