Newpark Resources, Inc. (NYSE:NR) VP Gregg Piontek sold 34,372 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $8.04, for a total value of $276,350.88. Following the completion of the transaction, the vice president now directly owns 114,308 shares in the company, valued at $919,036.32. The transaction was disclosed in a filing with the SEC, which is available at this link.
Newpark Resources, Inc. (NR) traded up 0.69% during trading on Friday, hitting $7.30. The stock had a trading volume of 1,138,022 shares. The firm has a 50 day moving average of $7.64 and a 200-day moving average of $7.70. Newpark Resources, Inc. has a 12 month low of $5.08 and a 12 month high of $8.75. The stock’s market cap is $648.58 million.
Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, April 27th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $158.70 million during the quarter, compared to the consensus estimate of $150.48 million. Newpark Resources had a negative net margin of 5.51% and a negative return on equity of 4.34%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities analysts predict that Newpark Resources, Inc. will post $0.06 earnings per share for the current year.
Separately, Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Thursday, May 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Newpark Resources by 60,897.4% in the first quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock worth $102,364,000 after buying an additional 12,616,732 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Newpark Resources during the first quarter worth about $14,636,000. Norges Bank acquired a new position in Newpark Resources during the fourth quarter worth about $10,393,000. Rockefeller Financial Services Inc. increased its position in Newpark Resources by 65.5% in the first quarter. Rockefeller Financial Services Inc. now owns 1,370,804 shares of the oil and gas company’s stock worth $11,104,000 after buying an additional 542,512 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in Newpark Resources by 7.5% in the third quarter. BlackRock Fund Advisors now owns 6,422,734 shares of the oil and gas company’s stock worth $47,271,000 after buying an additional 446,895 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.
About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include 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 Asia Pacific regions.
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