Analysts Set Newpark Resources Inc (NR) PT at $22.79

Shares of Newpark Resources Inc (NYSE:NR) have earned a consensus rating of “Buy” from the nine research firms that are currently covering the firm. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.79.

Several equities analysts have recently issued reports on NR shares. Loop Capital raised shares of Newpark Resources from a “hold” rating to a “buy” rating and raised their price target for the company from $7.00 to $11.00 in a research note on Thursday, January 5th. TheStreet raised shares of Newpark Resources from a “d” rating to a “c-” rating in a research note on Thursday, February 9th. Evercore ISI started coverage on shares of Newpark Resources in a research note on Tuesday, January 10th. They set a “buy” rating and a $10.00 price target for the company. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Tuesday, January 24th. Finally, Cowen and Company downgraded shares of Newpark Resources from an “outperform” rating to a “market perform” rating and raised their price target for the company from $7.50 to $8.00 in a research note on Thursday, January 19th.

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Newpark Resources (NYSE:NR) opened at 7.30 on Thursday. The stock has a 50 day moving average of $7.57 and a 200 day moving average of $7.37. The firm’s market cap is $618.65 million. Newpark Resources has a one year low of $3.74 and a one year high of $8.75.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, February 9th. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business earned $137.10 million during the quarter, compared to the consensus estimate of $116.77 million. Newpark Resources had a negative net margin of 8.63% and a negative return on equity of 6.78%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.00) EPS. Equities research analysts predict that Newpark Resources will post $0.01 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in NR. FMR LLC increased its position in Newpark Resources by 1.8% in the fourth quarter. FMR LLC now owns 8,085,310 shares of the company’s stock valued at $60,640,000 after buying an additional 144,800 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Newpark Resources by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,042,451 shares of the company’s stock valued at $52,818,000 after buying an additional 400,662 shares during the last quarter. BlackRock Fund Advisors increased its position in Newpark Resources by 7.5% in the third quarter. BlackRock Fund Advisors now owns 6,422,734 shares of the company’s stock valued at $47,271,000 after buying an additional 446,895 shares during the last quarter. Royce & Associates LP increased its position in Newpark Resources by 3.5% in the fourth quarter. Royce & Associates LP now owns 2,923,730 shares of the company’s stock valued at $21,928,000 after buying an additional 97,799 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Newpark Resources by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 2,565,643 shares of the company’s stock valued at $18,883,000 after buying an additional 101,229 shares during the last quarter. 95.89% of the stock is owned by hedge funds and other institutional investors.

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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