Newpark Resources Inc. (NR) Shares Up 1.8%
Newpark Resources Inc. (NYSE:NR) shot up 1.8% during mid-day trading on Wednesday . The company traded as high as $7.30 and last traded at $7.28, with a volume of 420,120 shares changing hands. The stock had previously closed at $7.15.
A number of research firms have issued reports on NR. Zacks Investment Research downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Credit Suisse Group AG set a $7.00 price target on Newpark Resources and gave the company a “buy” rating in a research report on Monday, August 1st. Capital One Financial Corp. raised Newpark Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $5.00 to $6.00 in a research report on Wednesday, June 15th. Finally, Tudor Pickering raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Newpark Resources has a consensus rating of “Buy” and an average target price of $6.67.
The company has a 50-day moving average price of $6.21 and a 200 day moving average price of $4.98. The company’s market cap is $650.80 million.
Newpark Resources (NYSE:NR) last released its earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.09. The business earned $115.30 million during the quarter, compared to analysts’ expectations of $106.93 million. Newpark Resources’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, equities analysts expect that Newpark Resources Inc. will post ($0.43) EPS for the current year.
An institutional investor recently bought a new position in Newpark Resources stock. Calvert Investment Management Inc. purchased a new position in Newpark Resources Inc. (NYSE:NR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 552,457 shares of the company’s stock, valued at approximately $2,917,000. Calvert Investment Management Inc. owned about 0.66% of Newpark Resources 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. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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