Newpark Resources, Inc. (NYSE:NR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, July 21st.
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. “
Separately, Loop Capital restated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Newpark Resources presently has an average rating of “Hold” and a consensus target price of $25.63.
Shares of Newpark Resources (NR) traded down 5.183% during midday trading on Friday, reaching $7.775. 423,862 shares of the company’s stock traded hands. Newpark Resources has a 52-week low of $5.80 and a 52-week high of $8.75. The company has a 50 day moving average of $7.63 and a 200 day moving average of $7.63. The firm’s market cap is $665.60 million.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $183 million during the quarter, compared to the consensus estimate of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm’s revenue for the quarter was up 58.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, equities analysts predict that Newpark Resources will post $0.08 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This article was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://stocknewstimes.com/2017/08/15/newpark-resources-inc-nr-downgraded-by-zacks-investment-research-to-sell-updated-updated-updated.html.
In related news, VP Matthew Lanigan sold 40,771 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total value of $344,922.66. Following the transaction, the vice president now owns 50,000 shares in the company, valued at approximately $423,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregg Piontek sold 34,372 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $8.04, for a total value of $276,350.88. Following the completion of the transaction, the vice president now directly owns 114,308 shares of the company’s stock, valued at approximately $919,036.32. The disclosure for this sale can be found here. Insiders have sold 90,267 shares of company stock worth $732,435 over the last three months. Insiders own 4.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd purchased a new stake in Newpark Resources during the second quarter valued at about $100,000. GW&K Investment Management LLC raised its stake in Newpark Resources by 16.5% in the first quarter. GW&K Investment Management LLC now owns 13,240 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 1,880 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Newpark Resources during the first quarter valued at about $114,000. State of Alaska Department of Revenue raised its stake in Newpark Resources by 86.2% in the second quarter. State of Alaska Department of Revenue now owns 17,414 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 8,064 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Newpark Resources during the first quarter valued at about $135,000.
Newpark Resources Company Profile
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.
Get a free copy of the Zacks research report on Newpark Resources (NR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Newpark Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newpark Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
