Newpark Resources (NYSE:NR) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Newpark Resources (NYSE:NR) from a hold rating to a sell rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Newpark Resources, Inc. is a worldwide provider of value-added drilling fluids systems, and composite matting systems used in oilfield and other commercial markets. “

A number of other analysts also recently weighed in on NR. Raymond James set a $12.00 price objective on Newpark Resources and gave the company a buy rating in a report on Wednesday, July 3rd. ValuEngine downgraded Newpark Resources from a hold rating to a sell rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Newpark Resources has a consensus rating of Hold and a consensus target price of $12.00.

NYSE NR traded up $0.15 on Thursday, reaching $7.65. The company had a trading volume of 710,154 shares, compared to its average volume of 519,630. The firm has a market cap of $670.96 million, a price-to-earnings ratio of 18.73 and a beta of 1.53. Newpark Resources has a fifty-two week low of $6.06 and a fifty-two week high of $10.90. The business has a 50 day moving average of $6.86 and a two-hundred day moving average of $7.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.57 and a quick ratio of 2.23.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $216.41 million during the quarter, compared to analyst estimates of $216.63 million. Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 earnings per share. As a group, research analysts predict that Newpark Resources will post 0.26 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. grew its holdings in Newpark Resources by 6.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock worth $30,143,000 after acquiring an additional 212,325 shares during the period. Foundry Partners LLC grew its holdings in Newpark Resources by 12.9% during the 2nd quarter. Foundry Partners LLC now owns 696,390 shares of the oil and gas company’s stock worth $5,167,000 after acquiring an additional 79,600 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Newpark Resources by 1.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,668,105 shares of the oil and gas company’s stock worth $12,378,000 after acquiring an additional 27,441 shares during the period. SG Americas Securities LLC grew its holdings in Newpark Resources by 461.6% during the 2nd quarter. SG Americas Securities LLC now owns 168,060 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 138,137 shares during the period. Finally, Hillcrest Asset Management LLC grew its holdings in Newpark Resources by 35.9% during the 1st quarter. Hillcrest Asset Management LLC now owns 804,936 shares of the oil and gas company’s stock worth $7,373,000 after acquiring an additional 212,764 shares during the period. Hedge funds and other institutional investors own 99.59% of the company’s stock.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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