Newpark Resources Inc. (NR) Reaches New 52-Week High at $7.68
Newpark Resources Inc. (NYSE:NR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.68 and last traded at $7.65, with a volume of 441,420 shares changing hands. The stock had previously closed at $7.33.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note 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 note 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 note on Wednesday, June 15th. Finally, Tudor Pickering raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $6.67.
The stock’s market cap is $644.88 million. The firm has a 50-day moving average price of $6.26 and a 200 day moving average price of $5.01.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09. The company had revenue of $115.30 million for the quarter, compared to the consensus estimate of $106.93 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Newpark Resources’s revenue was down 29.5% compared to the same quarter last year. On average, equities research analysts predict that Newpark Resources Inc. will post ($0.43) EPS for the current fiscal year.
An institutional investor recently bought a new position in Newpark Resources stock. Calvert Investment Management Inc. purchased a new stake in Newpark Resources Inc. (NYSE:NR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 552,457 shares of the company’s stock, valued at approximately $2,917,000. Calvert Investment Management Inc. owned 0.66% of Newpark Resources as of its most recent filing with the SEC.
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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