Loop Capital started coverage on shares of Newpark Resources Inc. (NYSE:NR) in a report published on Friday morning, The Fly reports. The brokerage issued a hold rating on the stock.
Several other equities analysts have also issued reports on the company. Capital One Financial Corp. raised Newpark Resources from an equal weight rating to an overweight rating and lifted their price target for the stock from $5.00 to $6.00 in a research report on Wednesday, June 15th. Credit Suisse Group AG started coverage on Newpark Resources in a research report on Monday, July 18th. They issued an outperform rating and a $7.00 price target for the company. Zacks Investment Research raised Newpark Resources from a hold rating to a buy rating and set a $7.50 price target for the company in a research report on Tuesday, September 20th. Finally, Leerink Swann reaffirmed a buy rating and issued a $108.00 price target on shares of Newpark Resources in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Newpark Resources presently has a consensus rating of Buy and a consensus price target of $21.18.
Shares of Newpark Resources (NYSE:NR) opened at 7.64 on Friday. Newpark Resources has a one year low of $3.35 and a one year high of $7.72. The stock’s market capitalization is $645.73 million. The stock has a 50 day moving average of $7.11 and a 200-day moving average of $5.70.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09. The firm earned $115.30 million during the quarter, compared to analyst estimates of $106.93 million. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. Newpark Resources’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. Equities analysts forecast that Newpark Resources will post ($0.43) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock worth $104,000 after buying an additional 4,203 shares in the last quarter. Marshall Wace LLP purchased a new stake in Newpark Resources during the second quarter worth about $115,000. BlackRock Inc. increased its stake in Newpark Resources by 293.0% in the second quarter. BlackRock Inc. now owns 23,392 shares of the company’s stock worth $136,000 after buying an additional 17,440 shares in the last quarter. Nomura Holdings Inc. increased its stake in Newpark Resources by 116.8% in the second quarter. Nomura Holdings Inc. now owns 24,700 shares of the company’s stock worth $140,000 after buying an additional 13,305 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Newpark Resources during the second quarter worth about $152,000. Institutional investors and hedge funds 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.
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