Shares of Newpark Resources Inc (NYSE:NR) have been assigned an average rating of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $10.00.
NR has been the topic of a number of recent analyst reports. SunTrust Banks upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, October 24th. Cowen set a $10.00 price objective on Newpark Resources and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday.
Shares of Newpark Resources (NYSE:NR) traded down $0.10 during trading on Friday, reaching $7.90. The company had a trading volume of 520,625 shares, compared to its average volume of 428,290. Newpark Resources has a one year low of $6.40 and a one year high of $10.20. The company has a market cap of $703.86, a PE ratio of 197.55 and a beta of 1.54. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.
In other news, Director David C. Anderson sold 17,000 shares of Newpark Resources stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the completion of the sale, the director now owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Stephen Finley sold 11,300 shares of Newpark Resources stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $8.79, for a total transaction of $99,327.00. Following the sale, the director now directly owns 192,658 shares of the company’s stock, valued at approximately $1,693,463.82. The disclosure for this sale can be found here. Insiders have sold 40,423 shares of company stock valued at $360,346 in the last 90 days. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of NR. BlueCrest Capital Management Ltd bought a new position in Newpark Resources in the second quarter worth approximately $100,000. GSA Capital Partners LLP bought a new position in Newpark Resources in the third quarter worth approximately $113,000. Raymond James Financial Services Advisors Inc. bought a new position in Newpark Resources in the third quarter worth approximately $114,000. Cubist Systematic Strategies LLC raised its stake in Newpark Resources by 24.8% in the second quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock worth $138,000 after buying an additional 3,730 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in Newpark Resources in the second quarter worth approximately $141,000.
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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