Newpark Resources, Inc. (NYSE:NR) has been assigned a $9.00 price objective by research analysts at Cowen and Company in a research note issued on Friday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s target price suggests a potential downside of 7.22% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd. Finally, BidaskClub cut shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.50.

Newpark Resources (NYSE NR) remained flat at $9.70 during mid-day trading on Friday. The company had a trading volume of 534,641 shares. The firm has a 50 day moving average of $8.80 and a 200-day moving average of $7.94. Newpark Resources has a 12 month low of $5.80 and a 12 month high of $10.20. The firm’s market cap is $830.40 million.

Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. The company had revenue of $183.00 million during the quarter, compared to analysts’ expectations of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The business’s revenue for the quarter was up 58.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. Analysts forecast that Newpark Resources will post $0.09 earnings per share for the current year.

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In other Newpark Resources news, VP Matthew Lanigan sold 40,771 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total value of $344,922.66. Following the completion of the transaction, the vice president now directly owns 50,000 shares in the company, valued at approximately $423,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently bought and sold shares of NR. BlackRock Inc. boosted its stake in shares of Newpark Resources by 60,897.4% in the 1st quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after purchasing an additional 12,616,732 shares during the last quarter. Daruma Capital Management LLC boosted its stake in Newpark Resources by 221.1% during the second quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock worth $42,852,000 after acquiring an additional 4,014,692 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in Newpark Resources during the first quarter worth $14,636,000. Bank of New York Mellon Corp boosted its stake in Newpark Resources by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock worth $24,481,000 after acquiring an additional 715,250 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Newpark Resources during the second quarter worth $5,013,000.

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.

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