Newpark Resources Inc (NYSE:NR) – Equities researchers at SunTrust Banks upped their FY2019 EPS estimates for shares of Newpark Resources in a research note issued on Tuesday. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will post earnings of $0.65 per share for the year, up from their previous forecast of $0.47. SunTrust Banks has a “Buy” rating on the stock.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Newpark Resources had a positive return on equity of 1.59% and a negative net margin of 0.82%. The firm had revenue of $204.40 million during the quarter, compared to analyst estimates of $202.55 million. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis.
Newpark Resources (NYSE NR) traded up $0.10 on Friday, reaching $8.50. The company had a trading volume of 336,758 shares, compared to its average volume of 446,046. Newpark Resources has a 12-month low of $6.40 and a 12-month high of $10.20. The company has a current ratio of 3.19, a quick ratio of 2.14 and a debt-to-equity ratio of 0.29. The firm has a market cap of $749.33, a price-to-earnings ratio of -121.41 and a beta of 1.54.
Several hedge funds have recently modified their holdings of NR. Ameriprise Financial Inc. lifted its holdings in shares of Newpark Resources by 4.8% during the second quarter. Ameriprise Financial Inc. now owns 577,151 shares of the oil and gas company’s stock worth $4,245,000 after buying an additional 26,342 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Newpark Resources by 2.5% during the second quarter. New York State Common Retirement Fund now owns 78,600 shares of the oil and gas company’s stock worth $578,000 after buying an additional 1,899 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Newpark Resources by 7.4% during the second quarter. Northern Trust Corp now owns 3,061,969 shares of the oil and gas company’s stock worth $22,505,000 after buying an additional 211,721 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Newpark Resources by 5.3% during the second quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock worth $57,266,000 after buying an additional 393,328 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its holdings in shares of Newpark Resources by 30.9% during the second quarter. Virtu KCG Holdings LLC now owns 39,131 shares of the oil and gas company’s stock worth $288,000 after buying an additional 9,232 shares during the last quarter.
In other news, Director G Stephen Finley sold 2,823 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $9.07, for a total transaction of $25,604.61. Following the completion of the transaction, the director now directly owns 176,235 shares in the company, valued at $1,598,451.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 23,423 shares of company stock valued at $208,876. Corporate insiders own 4.90% of the company’s stock.
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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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