Newpark Resources, Inc. (NYSE:NR) was upgraded by equities research analysts at SunTrust Banks, Inc. from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, October 24th. Cowen and Company set a $9.00 target price on Newpark Resources and gave the company a “hold” rating in a report on Friday, October 6th. Finally, BidaskClub cut Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $9.80.

Newpark Resources (NYSE:NR) traded up $0.85 during midday trading on Thursday, reaching $9.45. The company had a trading volume of 818,330 shares, compared to its average volume of 439,678. Newpark Resources has a 1 year low of $5.95 and a 1 year high of $10.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 1.67.

Newpark Resources (NYSE:NR) last issued its earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The company had revenue of $201.70 million during the quarter, compared to analysts’ expectations of $192.57 million. Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The firm’s quarterly revenue was up 92.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.16) earnings per share. sell-side analysts forecast that Newpark Resources will post 0.08 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of NR. BlackRock Inc. increased its position in Newpark Resources by 60,897.4% during the first quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock worth $102,364,000 after buying an additional 12,616,732 shares during the period. Daruma Capital Management LLC increased its position in Newpark Resources by 221.1% during the second quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock worth $42,852,000 after buying an additional 4,014,692 shares during the period. Bank of New York Mellon Corp increased its position in Newpark Resources by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock worth $24,481,000 after buying an additional 715,250 shares during the period. William Blair Investment Management LLC acquired a new position in Newpark Resources during the second quarter worth approximately $5,013,000. Finally, Vanguard Group Inc. increased its position in Newpark Resources by 5.3% during the second quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock worth $57,266,000 after buying an additional 393,328 shares during the period.

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.

Analyst Recommendations for Newpark Resources (NYSE:NR)

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