Newpark Resources Inc. (NYSE:NR) shares saw strong trading volume on Monday . 461,577 shares changed hands during trading, a decline of 25% from the previous session’s volume of 617,742 shares.The stock last traded at $5.80 and had previously closed at $5.78.

NR has been the subject of several recent analyst reports. Credit Suisse Group AG initiated coverage on Newpark Resources in a research note on Monday. They set an “outperform” rating and a $7.00 target price for the company. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Wednesday, July 6th. Capital One Financial Corp. upgraded Newpark Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $5.00 to $6.00 in a research note on Wednesday, June 15th. Finally, Tudor Pickering upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $6.54.

The company has a 50 day moving average of $5.53 and a 200-day moving average of $4.69. The company’s market capitalization is $491.21 million.

Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.03. The firm earned $114.54 million during the quarter, compared to analyst estimates of $134.09 million. During the same period in the prior year, the business posted $0.01 EPS. The business’s quarterly revenue was down 45.1% on a year-over-year basis. On average, equities analysts forecast that Newpark Resources Inc. will post ($0.55) EPS for the current fiscal year.

A hedge fund recently raised its stake in Newpark Resources stock. First Trust Advisors LP increased its position in shares of Newpark Resources Inc. (NYSE:NR) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 536,418 shares of the company’s stock after buying an additional 97,468 shares during the period. First Trust Advisors LP owned 0.64% of Newpark Resources worth $2,832,000 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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