Newpark Resources (NR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Newpark Resources (NYSE:NR) from a hold rating to a sell rating in a report issued on Saturday.

According to Zacks, “Newpark Resources, Inc. and its subsidiaries, provides products and services primarily to the oil and gas exploration and production industry. The company operates through two segments, Fluids Systems and Mats and Integrated Services. The Fluids Systems segment offers drilling fluids products and technical services for technical drilling projects involving complex subsurface conditions, including horizontal, directional, geologically deep or deep water drilling. This segment also grinds barite and other industrial minerals. The Mats and Integrated Services segment provides composite mat rentals, well site construction, and related site services to oil and gas customers at well, production, transportation, and refinery locations. The company operates in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. “

A number of other equities analysts have also issued reports on NR. Cowen set a $9.00 price target on shares of Newpark Resources and gave the stock a hold rating in a research report on Friday, October 6th. SunTrust Banks raised shares of Newpark Resources from a hold rating to a buy rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $10.00.

Newpark Resources (NYSE NR) opened at $8.85 on Friday. Newpark Resources has a 1 year low of $6.40 and a 1 year high of $10.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.96 and a current ratio of 2.71. The stock has a market cap of $768.24, a P/E ratio of 221.25 and a beta of 1.58.

Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The business had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $192.57 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The business’s quarterly revenue was up 92.8% compared to the same quarter last year. equities analysts predict that Newpark Resources will post 0.06 earnings per share for the current fiscal year.

In other news, Director G Stephen Finley sold 7,300 shares of Newpark Resources stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $9.08, for a total transaction of $66,284.00. Following the completion of the transaction, the director now directly owns 180,358 shares of the company’s stock, valued at approximately $1,637,650.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David C. Anderson sold 17,000 shares of Newpark Resources stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the transaction, the director now directly owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,423 shares of company stock valued at $360,346. Insiders own 4.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Newpark Resources in the 3rd quarter valued at $113,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Newpark Resources in the 3rd quarter valued at $114,000. BlueCrest Capital Management Ltd acquired a new stake in Newpark Resources in the 2nd quarter valued at $100,000. LMR Partners LLP acquired a new stake in Newpark Resources in the 3rd quarter valued at $154,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Newpark Resources in the 3rd quarter valued at $170,000.

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About Newpark Resources

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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