B. Riley Equities Analysts Reduce Earnings Estimates for Newpark Resources, Inc. (NYSE:NR)

Newpark Resources, Inc. (NYSE:NR) – Analysts at B. Riley dropped their Q4 2024 earnings estimates for Newpark Resources in a research report issued on Wednesday, August 7th. B. Riley analyst A. Rygiel now anticipates that the oil and gas company will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.09. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Newpark Resources’ current full-year earnings is $0.35 per share.

Several other research analysts have also commented on the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a report on Wednesday. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Newpark Resources has an average rating of “Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

NYSE NR opened at $7.45 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79. The stock’s fifty day moving average is $7.97 and its two-hundred day moving average is $7.37. The firm has a market capitalization of $634.75 million, a P/E ratio of 41.39 and a beta of 2.89. Newpark Resources has a fifty-two week low of $5.08 and a fifty-two week high of $8.65.

Newpark Resources (NYSE:NR) last issued its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The business had revenue of $179.01 million for the quarter, compared to analysts’ expectations of $171.04 million. During the same period in the previous year, the firm posted $0.08 EPS.

Institutional Investors Weigh In On Newpark Resources

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Newpark Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after purchasing an additional 162,941 shares during the period. Arizona State Retirement System purchased a new position in shares of Newpark Resources during the fourth quarter worth $153,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Newpark Resources by 29.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,682 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 7,681 shares in the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Newpark Resources in the 4th quarter valued at $460,000. Finally, Mackenzie Financial Corp acquired a new position in Newpark Resources during the 4th quarter worth about $101,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.