Zacks Investment Research Downgrades Newpark Resources (NR) to Hold

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Zacks Investment Research lowered shares of Newpark Resources (NYSE:NR) from a buy rating to a hold rating in a research report released on Tuesday, June 19th.

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. “

Several other analysts have also commented on the stock. Johnson Rice raised shares of Newpark Resources from a hold rating to a buy rating in a research note on Monday, March 5th. ValuEngine downgraded shares of Newpark Resources from a hold rating to a sell rating in a research report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $10.50.

NYSE NR opened at $10.85 on Tuesday. Newpark Resources has a 52 week low of $6.90 and a 52 week high of $11.65. The company has a quick ratio of 2.32, a current ratio of 3.60 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $982.41 million, a price-to-earnings ratio of 57.90 and a beta of 1.46.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.90 million. Newpark Resources had a net margin of 0.25% and a return on equity of 3.10%. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. equities analysts expect that Newpark Resources will post 0.42 earnings per share for the current year.

In related news, insider Mark J. Airola sold 127,250 shares of the company’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $10.34, for a total transaction of $1,315,765.00. Following the completion of the sale, the insider now directly owns 466,205 shares of the company’s stock, valued at approximately $4,820,559.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Matthew Lanigan sold 18,913 shares of the stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $10.52, for a total transaction of $198,964.76. Following the completion of the sale, the vice president now directly owns 25,000 shares of the company’s stock, valued at $263,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,908 shares of company stock worth $3,779,341. 4.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Element Capital Management LLC acquired a new stake in shares of Newpark Resources during the 1st quarter worth about $113,000. Koch Industries Inc. acquired a new stake in shares of Newpark Resources during the 1st quarter worth about $184,000. Crestline Management LP acquired a new stake in shares of Newpark Resources during the 4th quarter worth about $211,000. Citigroup Inc. increased its position in shares of Newpark Resources by 423.9% during the 1st quarter. Citigroup Inc. now owns 25,327 shares of the oil and gas company’s stock worth $205,000 after purchasing an additional 20,493 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Newpark Resources during the 4th quarter worth about $247,000. 97.59% of the stock is owned by institutional investors.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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