Newpark Resources Inc (NYSE:NR) – Stock analysts at SunTrust Banks increased their Q1 2018 earnings estimates for shares of Newpark Resources in a research note issued on Tuesday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings of $0.06 per share for the quarter, up from their prior forecast of $0.05. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Newpark Resources’ Q2 2018 earnings at $0.07 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.34 EPS, Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.18 EPS and Q4 2019 earnings at $0.19 EPS.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of 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. ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Finally, Cowen set a $10.00 price objective on shares of Newpark Resources and gave the stock a “hold” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.50.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $204.40 million during the quarter, compared to the consensus estimate of $202.55 million. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.59%. The company’s quarterly revenue was up 49.1% compared to the same quarter last year.
In other news, Director G Stephen Finley sold 2,823 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $9.07, for a total transaction of $25,604.61. Following the completion of the sale, the director now owns 176,235 shares in the company, valued at approximately $1,598,451.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 23,423 shares of company stock valued at $208,876 in the last 90 days. Insiders own 4.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in shares of Newpark Resources in the 2nd quarter valued at $100,000. GSA Capital Partners LLP acquired a new position in shares of Newpark Resources in the 3rd quarter valued at $113,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Newpark Resources in the 3rd quarter valued at $114,000. Cubist Systematic Strategies LLC increased its holdings in shares of Newpark Resources by 24.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 3,730 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Newpark Resources in the 2nd quarter valued at $141,000.
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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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