SunTrust Banks, Inc. upgraded shares of Newpark Resources, Inc. (NYSE:NR) from a hold rating to a buy rating in a research note released on Thursday morning, MarketBeat.com reports.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Newpark Resources from a hold rating to a sell rating in a research note on Friday, July 21st. Cowen and Company set a $9.00 price target on Newpark Resources and gave the stock a hold rating in a research note on Friday, October 6th. Finally, BidaskClub lowered Newpark Resources from a sell rating to a strong sell rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $9.80.
Shares of Newpark Resources (NYSE:NR) traded up $0.45 during trading hours on Thursday, hitting $9.45. The stock had a trading volume of 818,330 shares, compared to its average volume of 439,678. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.71. Newpark Resources has a fifty-two week low of $5.95 and a fifty-two week high of $10.20.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Monday, October 30th. The oil and gas company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. Newpark Resources’s revenue was up 92.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. analysts expect that Newpark Resources will post 0.08 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Newpark Resources by 60,897.4% in the 1st quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after buying an additional 12,616,732 shares in the last quarter. Vanguard Group Inc. lifted its stake in Newpark Resources by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock valued at $57,266,000 after buying an additional 393,328 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Newpark Resources by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,467,396 shares of the oil and gas company’s stock valued at $54,886,000 after buying an additional 347,306 shares in the last quarter. Daruma Capital Management LLC lifted its stake in Newpark Resources by 221.1% in the 2nd quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock valued at $42,852,000 after buying an additional 4,014,692 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Newpark Resources by 27.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock valued at $24,481,000 after buying an additional 715,250 shares in the last quarter.
Newpark Resources Company Profile
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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