Newpark Resources Inc (NYSE:NR) has been given an average recommendation of “Buy” by the nine brokerages that are covering the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.79.
NR has been the subject of a number of research analyst reports. Cowen and Company cut shares of Newpark Resources from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $7.50 to $8.00 in a research note on Thursday, January 19th. Evercore ISI assumed coverage on shares of Newpark Resources in a research report on Tuesday, January 10th. They issued a “buy” rating and a $10.00 price objective for the company. TheStreet upgraded shares of Newpark Resources from a “d” rating to a “c-” rating in a research report on Thursday, February 9th. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Tuesday, January 24th. Finally, Loop Capital upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $7.00 to $11.00 in a research report on Thursday, January 5th.
A number of hedge funds have recently added to or reduced their stakes in NR. Two Sigma Securities LLC acquired a new stake in Newpark Resources during the third quarter worth approximately $115,000. Public Employees Retirement System of Ohio raised 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. Municipal Employees Retirement System of Michigan raised its stake in Newpark Resources by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,720 shares of the company’s stock worth $138,000 after buying an additional 330 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in Newpark Resources during the third quarter worth approximately $151,000. Finally, Aperio Group LLC raised its stake in Newpark Resources by 6.2% in the third quarter. Aperio Group LLC now owns 23,807 shares of the company’s stock worth $175,000 after buying an additional 1,382 shares in the last quarter. 95.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Newpark Resources (NYSE:NR) opened at 7.30 on Thursday. The company’s market capitalization is $618.65 million. Newpark Resources has a 1-year low of $3.74 and a 1-year high of $8.75. The stock’s 50 day moving average price is $7.57 and its 200 day moving average price is $7.37.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, February 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Newpark Resources had a negative net margin of 8.63% and a negative return on equity of 6.78%. The company earned $137.10 million during the quarter, compared to analysts’ expectations of $116.77 million. During the same quarter in the previous year, the company posted ($1.00) earnings per share. Newpark Resources’s quarterly revenue was down 9.0% compared to the same quarter last year. Analysts expect that Newpark Resources will post $0.01 EPS for the current year.
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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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