ValuEngine Lowers Newpark Resources (NR) to Sell

ValuEngine cut shares of Newpark Resources (NYSE:NR) from a hold rating to a sell rating in a research note issued to investors on Friday, ValuEngine reports.

Several other analysts have also recently weighed in on NR. Zacks Investment Research upgraded shares of Newpark Resources from a sell rating to a hold rating in a research note on Saturday, February 9th. SunTrust Banks set a $13.00 price objective on shares of Newpark Resources and gave the stock a buy rating in a research note on Monday, April 8th. Finally, TheStreet upgraded shares of Newpark Resources from a c rating to a b rating in a research note on Friday, February 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Newpark Resources currently has an average rating of Hold and an average target price of $12.00.

Shares of Newpark Resources stock opened at $7.06 on Friday. Newpark Resources has a twelve month low of $6.39 and a twelve month high of $11.65. The company has a quick ratio of 2.30, a current ratio of 3.69 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $637.50 million, a price-to-earnings ratio of 17.22 and a beta of 1.70.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Newpark Resources had a return on equity of 6.31% and a net margin of 2.83%. The business had revenue of $211.50 million during the quarter, compared to analyst estimates of $224.17 million. During the same quarter last year, the firm earned $0.08 EPS. Newpark Resources’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Newpark Resources will post 0.38 EPS for the current fiscal year.

In other Newpark Resources news, insider Paul L. Howes sold 200,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.21, for a total value of $1,842,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul L. Howes sold 106,487 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the completion of the transaction, the insider now directly owns 621,820 shares in the company, valued at $5,907,290. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in NR. Advisor Group Inc. grew its holdings in shares of Newpark Resources by 233.0% during the 4th 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. Menta Capital LLC bought a new stake in shares of Newpark Resources during the 4th quarter valued at approximately $107,000. BNP Paribas Arbitrage SA grew its holdings in shares of Newpark Resources by 264.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 14,919 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Newpark Resources by 327.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 31,487 shares of the oil and gas company’s stock valued at $216,000 after purchasing an additional 24,114 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Newpark Resources during the 4th quarter valued at approximately $237,000. 98.65% of the stock is currently owned by hedge funds and other institutional investors.

About Newpark Resources

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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