Newpark Resources, Inc. (NYSE:NR) Cut to “Sell” at BidaskClub
Newpark Resources, Inc. (NYSE:NR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Thursday, May 4th. Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.63.
Newpark Resources (NYSE:NR) traded up 0.61% during mid-day trading on Thursday, reaching $8.25. 34,710 shares of the company’s stock were exchanged. The company’s market capitalization is $706.27 million. Newpark Resources has a 52 week low of $5.80 and a 52 week high of $8.75. The company’s 50 day moving average price is $7.51 and its 200-day moving average price is $7.63.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. The company had revenue of $183 million for the quarter, compared to analyst estimates of $159.51 million. During the same period in the prior year, the company posted ($0.06) EPS. Newpark Resources’s quarterly revenue was up 58.7% on a year-over-year basis. On average, equities research analysts expect that Newpark Resources will post $0.08 earnings per share for the current fiscal year.
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In other news, EVP Bruce Campbell Smith sold 10,578 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $8.00, for a total transaction of $84,624.00. Following the completion of the sale, the executive vice president now directly owns 226,034 shares of the company’s stock, valued at $1,808,272. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew Lanigan sold 40,771 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total value of $344,922.66. Following the sale, the vice president now directly owns 50,000 shares of the company’s stock, valued at $423,000. The disclosure for this sale can be found here. In the last three months, insiders sold 241,985 shares of company stock valued at $1,939,122. Company insiders own 4.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. GW&K Investment Management LLC increased its stake in shares of Newpark Resources by 16.5% in the first quarter. GW&K Investment Management LLC now owns 13,240 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 1,880 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Newpark Resources during the first quarter valued at about $114,000. State of Alaska Department of Revenue increased its stake in shares of Newpark Resources by 86.2% in the second quarter. State of Alaska Department of Revenue now owns 17,414 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 8,064 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Newpark Resources during the first quarter valued at about $135,000. Finally, Virginia Retirement Systems ET AL increased its stake in shares of Newpark Resources by 35.0% in the first quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 4,728 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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