Shares of Newpark Resources, Inc. (NYSE:NR) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.50.
Several research firms have recently issued reports on NR. Zacks Investment Research upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded Newpark Resources from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd.
Shares of Newpark Resources (NYSE:NR) remained flat at $8.40 during mid-day trading on Monday. 441,897 shares of the stock traded hands. The firm’s market cap is $719.11 million. The company’s 50 day moving average is $7.35 and its 200 day moving average is $7.60. Newpark Resources has a 52 week low of $5.80 and a 52 week high of $8.75.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 million for the quarter, compared to the consensus estimate of $159.51 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 58.7% compared to the same quarter last year. On average, equities analysts anticipate that Newpark Resources will post $0.10 EPS for the current fiscal year.
In other Newpark Resources news, insider Paul L. Howes sold 141,140 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $7.95, for a total value of $1,122,063.00. Following the sale, the insider now owns 502,625 shares in the company, valued at approximately $3,995,868.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David C. Anderson sold 15,124 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $7.35, for a total value of $111,161.40. Following the completion of the sale, the director now owns 187,841 shares in the company, valued at approximately $1,380,631.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,985 shares of company stock worth $1,939,122. Insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NR. BlackRock Inc. increased its position in Newpark Resources by 60,897.4% in the first quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after buying an additional 12,616,732 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in Newpark Resources during the first quarter valued at approximately $14,636,000. Norges Bank purchased a new position in Newpark Resources during the fourth quarter valued at approximately $10,393,000. Bank of New York Mellon Corp increased its position in Newpark Resources by 27.3% in the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock valued at $24,481,000 after buying an additional 715,250 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in Newpark Resources during the second quarter valued at approximately $5,013,000.
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About Newpark Resources
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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