Newpark Resources (NYSE:NR) Shares Down 6.7%

Newpark Resources, Inc. (NYSE:NRGet Free Report)’s share price was down 6.7% during mid-day trading on Friday . The stock traded as low as $7.78 and last traded at $7.80. Approximately 530,133 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 677,252 shares. The stock had previously closed at $8.36.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday, May 6th. Roth Mkm assumed coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 price target on the stock. Roth Capital restated a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. Finally, B. Riley increased their price objective on shares of Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Newpark Resources presently has an average rating of “Buy” and a consensus target price of $11.00.

Check Out Our Latest Research Report on Newpark Resources

Newpark Resources Trading Down 7.2 %

The firm has a market capitalization of $661.15 million, a PE ratio of 43.61 and a beta of 2.86. The company’s fifty day simple moving average is $7.66 and its 200-day simple moving average is $7.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74.

Newpark Resources (NYSE:NRGet Free Report) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The company had revenue of $169.11 million for the quarter, compared to the consensus estimate of $170.69 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. As a group, sell-side analysts expect that Newpark Resources, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Newpark Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC increased its holdings in shares of Newpark Resources by 182.5% in the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock valued at $4,678,000 after purchasing an additional 418,570 shares during the period. GSA Capital Partners LLP purchased a new position in Newpark Resources during the 4th quarter worth $2,567,000. Russell Investments Group Ltd. boosted its holdings in shares of Newpark Resources by 210.2% in the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after acquiring an additional 349,935 shares in the last quarter. 1492 Capital Management LLC purchased a new position in Newpark Resources during the fourth quarter worth about $2,193,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Newpark Resources by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after purchasing an additional 303,236 shares in the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

About Newpark Resources

(Get Free Report)

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.

Further Reading

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