Newpark Resources, Inc. (NR) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Newpark Resources, Inc. (NYSE:NR) have received a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $33.50.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Thursday, May 4th. Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd.
Shares of Newpark Resources (NYSE NR) traded down 1.36% during trading on Monday, reaching $7.25. The company’s stock had a trading volume of 225,225 shares. Newpark Resources has a 1-year low of $5.48 and a 1-year high of $8.75. The stock has a 50 day moving average of $7.30 and a 200-day moving average of $7.63. The company’s market capitalization is $644.14 million.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, April 27th. The oil and gas company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Newpark Resources had a negative return on equity of 4.34% and a negative net margin of 5.51%. The company had revenue of $158.70 million for the quarter, compared to the consensus estimate of $150.48 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, analysts expect that Newpark Resources will post $0.06 earnings per share for the current year.
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In related news, insider Paul L. Howes sold 141,140 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $7.95, for a total transaction of $1,122,063.00. Following the completion of the transaction, the insider now directly owns 502,625 shares of the company’s stock, valued at approximately $3,995,868.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce Campbell Smith sold 10,578 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $8.00, for a total value of $84,624.00. Following the transaction, the executive vice president now directly owns 226,034 shares of the company’s stock, valued at $1,808,272. The disclosure for this sale can be found here. Insiders sold a total of 201,214 shares of company stock worth $1,594,199 in the last quarter. Company insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Newpark Resources by 13.1% in the fourth quarter. State Street Corp now owns 2,143,792 shares of the oil and gas company’s stock valued at $16,083,000 after buying an additional 247,617 shares during the last quarter. Lazard Asset Management LLC boosted its position in Newpark Resources by 24.1% in the first quarter. Lazard Asset Management LLC now owns 1,155,350 shares of the oil and gas company’s stock valued at $9,358,000 after buying an additional 224,520 shares during the last quarter. Comerica Bank boosted its position in Newpark Resources by 5.3% in the fourth quarter. Comerica Bank now owns 90,358 shares of the oil and gas company’s stock valued at $714,000 after buying an additional 4,581 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Newpark Resources by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,500 shares of the oil and gas company’s stock valued at $279,000 after buying an additional 500 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in Newpark Resources by 265.2% in the first quarter. Nationwide Fund Advisors now owns 264,590 shares of the oil and gas company’s stock valued at $2,143,000 after buying an additional 192,147 shares during 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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