Newpark Resources (NR) Sees Large Volume Increase

Shares of Newpark Resources Inc (NYSE:NR) saw strong trading volume on Thursday . 761,074 shares traded hands during mid-day trading, an increase of 100% from the previous session’s volume of 380,384 shares.The stock last traded at $9.60 and had previously closed at $8.80.

A number of equities analysts have weighed in on the stock. Cowen set a $10.00 target price on shares of Newpark Resources and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, SunTrust Banks raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Newpark Resources presently has an average rating of “Hold” and a consensus price target of $10.50.

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 1.96. The stock has a market capitalization of $824.03, a P/E ratio of 246.31 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 for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The business had revenue of $201.70 million for the quarter, compared to the consensus estimate of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The company’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. equities analysts predict that Newpark Resources Inc will post 0.06 EPS for the current fiscal year.

In related news, Director G Stephen Finley sold 11,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $8.79, for a total transaction of $99,327.00. Following the completion of the transaction, the director now owns 192,658 shares in the company, valued at $1,693,463.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David C. Anderson sold 17,000 shares of the business’s 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 owns 170,841 shares of the company’s stock, valued at approximately $1,522,193.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,423 shares of company stock valued at $360,346. 4.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of NR. BlueCrest Capital Management Ltd acquired a new position in Newpark Resources during the second quarter valued at approximately $100,000. GSA Capital Partners LLP acquired a new position in Newpark Resources during the third quarter valued at approximately $113,000. Raymond James Financial Services Advisors Inc. acquired a new position in Newpark Resources during the third quarter valued at approximately $114,000. Cubist Systematic Strategies LLC grew its holdings in Newpark Resources by 24.8% during the second quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 3,730 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new position in Newpark Resources during the second quarter valued at approximately $141,000.

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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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