Newpark Resources (NR) Trading Up 8%

Shares of Newpark Resources Inc (NYSE:NR) were up 8% during mid-day trading on Tuesday . The company traded as high as $7.97 and last traded at $7.95. Approximately 758,800 shares changed hands during trading, an increase of 35% from the average daily volume of 563,119 shares. The stock had previously closed at $7.36.

A number of analysts recently issued reports on NR shares. ValuEngine downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group increased their price target on shares of Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.00.

The firm has a market capitalization of $713.75 million, a PE ratio of 21.65 and a beta of 1.41. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.32.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.06). Newpark Resources had a return on equity of 5.56% and a net margin of 1.36%. The firm had revenue of $235.33 million for the quarter, compared to analysts’ expectations of $237.08 million. As a group, analysts anticipate that Newpark Resources Inc will post 0.41 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of NR. Victory Capital Management Inc. lifted its holdings in Newpark Resources by 1,773.4% during the second quarter. Victory Capital Management Inc. now owns 3,618,405 shares of the oil and gas company’s stock valued at $39,259,000 after purchasing an additional 3,425,260 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Newpark Resources during the second quarter valued at $21,674,000. BTIM Corp. purchased a new position in Newpark Resources during the third quarter valued at $11,314,000. BlackRock Inc. lifted its holdings in Newpark Resources by 8.3% during the second quarter. BlackRock Inc. now owns 12,904,410 shares of the oil and gas company’s stock valued at $140,013,000 after purchasing an additional 987,281 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Newpark Resources by 15.9% during the second quarter. Wells Fargo & Company MN now owns 1,561,381 shares of the oil and gas company’s stock valued at $16,941,000 after purchasing an additional 214,495 shares in the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

About Newpark Resources (NYSE:NR)

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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