Newpark Resources (NYSE:NR) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Newpark Resources (NYSE:NR) from a sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Newpark Resources, Inc. is a worldwide provider of value-added drilling fluids systems, and composite matting systems used in oilfield and other commercial markets. “

NR has been the subject of several other reports. SunTrust Banks set a $13.00 price target on Newpark Resources and gave the company a buy rating in a research report on Monday, April 8th. Raymond James set a $12.00 price target on Newpark Resources and gave the company a buy rating in a research report on Wednesday, July 3rd. TheStreet cut Newpark Resources from a b rating to a c+ rating in a research report on Friday, April 26th. Finally, ValuEngine raised Newpark Resources from a sell rating to a hold rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $12.00.

NR stock opened at $7.05 on Friday. The company has a quick ratio of 2.81, a current ratio of 3.57 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $634.94 million, a PE ratio of 17.20 and a beta of 1.48. The stock’s 50-day moving average price is $7.00. Newpark Resources has a fifty-two week low of $6.29 and a fifty-two week high of $11.25.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $216.41 million for the quarter, compared to analyst estimates of $216.63 million. Newpark Resources had a return on equity of 5.10% and a net margin of 2.17%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, sell-side analysts anticipate that Newpark Resources will post 0.26 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its position in Newpark Resources by 233.0% during the fourth quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 2,926 shares during the last quarter. Laurion Capital Management LP bought a new stake in Newpark Resources in the first quarter valued at approximately $105,000. Magnus Financial Group LLC bought a new stake in Newpark Resources in the second quarter valued at approximately $106,000. Campbell & CO Investment Adviser LLC bought a new stake in Newpark Resources in the first quarter valued at approximately $130,000. Finally, BNP Paribas Arbitrage SA raised its stake in Newpark Resources by 264.9% in the first quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 14,919 shares during the period. 99.69% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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