Newpark Resources Inc (NR) Given Consensus Recommendation of “Buy” by Brokerages

Newpark Resources Inc (NYSE:NR) has earned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.50.

Several equities analysts have recently commented on the stock. ValuEngine cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. Johnson Rice upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research report on Monday, March 5th. Finally, Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, May 1st.

In related news, Director David C. Anderson sold 20,000 shares of Newpark Resources stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $10.26, for a total transaction of $205,200.00. Following the sale, the director now directly owns 150,841 shares of the company’s stock, valued at approximately $1,547,628.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce Campbell Smith sold 43,750 shares of Newpark Resources stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $10.50, for a total transaction of $459,375.00. Following the sale, the executive vice president now directly owns 313,620 shares in the company, valued at $3,293,010. The disclosure for this sale can be found here. Insiders have sold a total of 363,908 shares of company stock worth $3,779,341 over the last ninety days. 4.80% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Newpark Resources by 0.4% during the 4th quarter. BlackRock Inc. now owns 11,920,557 shares of the oil and gas company’s stock valued at $102,517,000 after purchasing an additional 48,750 shares during the last quarter. Rhumbline Advisers grew its holdings in Newpark Resources by 14.6% during the 4th quarter. Rhumbline Advisers now owns 212,632 shares of the oil and gas company’s stock worth $1,829,000 after acquiring an additional 27,121 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Newpark Resources by 2.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 879,003 shares of the oil and gas company’s stock worth $7,560,000 after acquiring an additional 23,488 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Newpark Resources during the 4th quarter worth approximately $247,000. Finally, Chartwell Investment Partners LLC grew its holdings in Newpark Resources by 25.0% during the 4th quarter. Chartwell Investment Partners LLC now owns 347,225 shares of the oil and gas company’s stock worth $2,986,000 after acquiring an additional 69,422 shares during the last quarter. 99.36% of the stock is currently owned by institutional investors.

Newpark Resources traded down $0.05, hitting $10.30, during midday trading on Thursday, Marketbeat Ratings reports. The company’s stock had a trading volume of 358,900 shares, compared to its average volume of 525,269. Newpark Resources has a 1-year low of $6.57 and a 1-year high of $11.15. The company has a quick ratio of 2.32, a current ratio of 3.60 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $924.36 million, a price-to-earnings ratio of 103.00 and a beta of 1.46.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, April 26th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $224.90 million. Newpark Resources had a net margin of 0.25% and a return on equity of 3.10%. The business’s revenue was up 43.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. sell-side analysts anticipate that Newpark Resources will post 0.42 earnings per share for the current fiscal year.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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