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.
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.
ILLEGAL ACTIVITY WARNING: “Newpark Resources (NR) Sees Large Volume Increase” was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.com-unik.info/2018/01/13/newpark-resources-nr-sees-large-volume-increase.html.
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.
What are top analysts saying about Newpark Resources? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Newpark Resources and related companies.