Newpark Resources Inc. (NR) Sees Strong Trading Volume
Newpark Resources Inc. (NYSE:NR) shares saw an uptick in trading volume on Monday . 461,577 shares were traded 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.
Several research firms have weighed in on NR. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Wednesday, July 6th. Capital One Financial Corp. upgraded shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $5.00 to $6.00 in a report on Wednesday, June 15th. Tudor Pickering upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. Finally, Credit Suisse Group AG began coverage on shares of Newpark Resources in a report on Monday. They set an “outperform” rating and a $7.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.54.
The stock’s market capitalization is $475.23 million. The stock has a 50 day moving average of $5.53 and a 200-day moving average of $4.70.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, April 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.03. During the same quarter last year, the company earned $0.01 EPS. The firm had revenue of $114.54 million for the quarter, compared to analysts’ expectations of $134.09 million. The business’s revenue was down 45.1% on a year-over-year basis. Equities research analysts expect that Newpark Resources Inc. will post ($0.55) earnings per share for the current year.
An institutional investor recently raised its position in Newpark Resources stock. First Trust Advisors LP increased its stake in shares of Newpark Resources Inc. (NYSE:NR) by 22.2% during the fourth quarter, according to its most recent filing with the 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 about 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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