Newpark Resources Inc. (NR) Stock Price Up 5.7%
Shares of Newpark Resources Inc. (NYSE:NR) rose 5.7% during trading on Tuesday . The company traded as high as $6.15 and last traded at $6.09, with a volume of 190,454 shares traded. The stock had previously closed at $5.76.
NR has been the topic of a number of research reports. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Wednesday, July 6th. Tudor Pickering raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. Credit Suisse Group AG raised Newpark Resources from a “neutral” rating to an “outperform” rating and set a $6.00 price objective on the stock in a research note on Wednesday, June 1st. Finally, Capital One Financial Corp. raised Newpark Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $6.00 in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Newpark Resources presently has a consensus rating of “Buy” and a consensus price target of $6.38.
The company’s market cap is $508.03 million. The stock has a 50-day moving average price of $5.32 and a 200 day moving average price of $4.66.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.03. The company earned $114.54 million during the quarter, compared to analyst estimates of $134.09 million. During the same quarter in the previous year, the business posted $0.01 EPS. Newpark Resources’s revenue was down 45.1% compared to the same quarter last year. On average, equities analysts anticipate that Newpark Resources Inc. will post ($0.55) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Newpark Resources stock. First Trust Advisors LP boosted its stake in Newpark Resources Inc. (NYSE:NR) by 22.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 536,418 shares of the company’s stock after buying an additional 97,468 shares during the period. First Trust Advisors LP owned approximately 0.64% of Newpark Resources worth $2,832,000 at the end of the most recent quarter.
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. Fluids Systems segment provides drilling fluids solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling, to E&P customers in North America, Europe, the Middle East and Africa (EMEA), Latin America, and Asia Pacific.
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