Zacks Investment Research cut shares of Newpark Resources, Inc. (NYSE:NR) from a buy rating to a hold rating in a report published on Saturday.
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 research firms have also weighed in on NR. BidaskClub lowered shares of Newpark Resources from a sell rating to a strong sell rating in a research note on Friday, July 28th. Cowen and Company set a $9.00 price objective on shares of Newpark Resources and gave the company a hold rating in a research note on Friday, October 6th. Finally, SunTrust Banks, Inc. upgraded shares of Newpark Resources from a hold rating to a buy rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Newpark Resources presently has a consensus rating of Hold and an average target price of C$9.80.
Shares of Newpark Resources (NYSE:NR) traded down C$0.08 during mid-day trading on Friday, hitting C$9.65. 535,484 shares of the stock traded hands, compared to its average volume of 535,911. The company has a quick ratio of 1.96, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. Newpark Resources has a 12 month low of C$6.25 and a 12 month high of C$10.20.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Monday, October 30th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.04 by C($0.01). Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The company had revenue of C$201.70 million for the quarter, compared to analysts’ expectations of C$192.57 million. During the same quarter in the previous year, the business earned ($0.16) EPS. The company’s revenue for the quarter was up 92.8% on a year-over-year basis. equities analysts forecast that Newpark Resources will post 0.06 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Newpark Resources by 60,897.4% during the 1st quarter. BlackRock Inc. now owns 12,637,450 shares of the company’s stock valued at $102,364,000 after purchasing an additional 12,616,732 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Newpark Resources by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,791,303 shares of the company’s stock valued at $57,266,000 after purchasing an additional 393,328 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Newpark Resources by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,467,396 shares of the company’s stock valued at $54,886,000 after purchasing an additional 347,306 shares in the last quarter. Daruma Capital Management LLC grew its position in shares of Newpark Resources by 221.1% during the 2nd quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the company’s stock valued at $42,852,000 after purchasing an additional 4,014,692 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Newpark Resources by 6.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,554,412 shares of the company’s stock valued at $35,543,000 after purchasing an additional 223,642 shares in the last quarter.
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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