According to Zacks, “NEWPARK RESOURCES, INC. provides integrated environmental services to the oil and gas exploration and production industry in the Gulf Coast area, principally in Louisiana and Texas. “
Several other research firms have also recently weighed in on NR. Credit Suisse Group AG started coverage on shares of Newpark Resources in a research note on Monday, July 18th. They issued an outperform rating and a $7.00 target price for the company. Capital One Financial Corp. upgraded shares of Newpark Resources from an equal weight rating to an overweight rating and raised their price target for the stock from $5.00 to $6.00 in a research note on Wednesday, June 15th. Leerink Swann restated a buy rating and set a $108.00 price target on shares of Newpark Resources in a research note on Thursday, August 25th. Finally, Loop Capital started coverage on shares of Newpark Resources in a research note on Friday, September 30th. They set a hold rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Newpark Resources presently has a consensus rating of Buy and an average price target of $21.18.
Newpark Resources (NYSE:NR) opened at 7.53 on Tuesday. Newpark Resources has a one year low of $3.35 and a one year high of $7.72. The company has a 50-day moving average price of $7.10 and a 200-day moving average price of $5.69. The company’s market capitalization is $636.43 million.
Newpark Resources (NYSE:NR) last released its earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative net margin of 21.47% and a negative return on equity of 6.09%. The business earned $115.30 million during the quarter, compared to analysts’ expectations of $106.93 million. During the same quarter last year, the company earned ($0.03) earnings per share. The firm’s revenue was down 29.5% on a year-over-year basis. Equities research analysts anticipate that Newpark Resources will post ($0.43) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of NR. Dalton Greiner Hartman Maher & Co. purchased a new position in Newpark Resources during the second quarter worth about $1,669,000. BNP Paribas Arbitrage SA boosted its position in Newpark Resources by 86.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,625 shares of the company’s stock worth $160,000 after buying an additional 12,818 shares during the period. Arizona State Retirement System boosted its position in Newpark Resources by 4.9% in the first quarter. Arizona State Retirement System now owns 43,071 shares of the company’s stock worth $186,000 after buying an additional 2,000 shares during the period. ZPR Investment Management purchased a new position in Newpark Resources during the first quarter worth about $1,853,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Newpark Resources by 36.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 86,886 shares of the company’s stock worth $375,000 after buying an additional 23,209 shares during the period. Institutional investors own 98.74% of the company’s stock.
Newpark Resources Company Profile
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Newpark Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newpark Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.