Newpark Resources Inc. (NYSE:NR)’s share price fell 2.4% during trading on Thursday . The stock traded as low as $5.76 and last traded at $5.77, with a volume of 359,937 shares changing hands. The stock had previously closed at $5.91.

Several brokerages recently commented on NR. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Wednesday, July 6th. Capital One Financial Corp. raised shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $5.00 to $6.00 in a research report on Wednesday, June 15th. Tudor Pickering raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd. Finally, Credit Suisse Group AG raised shares of Newpark Resources from a “neutral” rating to an “outperform” rating and set a $6.00 price objective for the company in a research report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.38.

The firm’s market cap is $487.00 million. The firm has a 50-day moving average of $5.45 and a 200 day moving average of $4.69.

Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. During the same quarter last year, the business earned $0.01 earnings per share. The business earned $114.54 million during the quarter, compared to the consensus estimate of $134.09 million. The business’s revenue was down 45.1% compared to the same quarter last year. Analysts expect that Newpark Resources Inc. will post ($0.55) earnings per share for the current year.

A hedge fund recently raised its stake in Newpark Resources stock. Royce & Associates LLC boosted its stake in shares of Newpark Resources Inc. (NYSE:NR) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,376,431 shares of the company’s stock after buying an additional 381,825 shares during the period. Royce & Associates LLC owned approximately 2.82% of Newpark Resources worth $12,548,000 as of its most recent SEC filing.

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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