Newpark Resources (NYSE:NR) Rating Lowered to Hold at Zacks Investment Research

Newpark Resources (NYSE:NR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, November 11th.

According to Zacks, “NEWPARK RESOURCES, INC. provides integrated environmental services to the oil and gas exploration and production industry in the Gulf Coast area, principally in Louisiana and Texas. “

Other analysts have also recently issued reports about the company. BidaskClub cut Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. SunTrust Banks raised Newpark Resources from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, Cowen set a $9.00 price objective on Newpark Resources and gave the company a “hold” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.80.

Newpark Resources (NYSE:NR) traded up $0.10 on Friday, reaching $8.85. 441,511 shares of the company’s stock were exchanged, compared to its average volume of 690,503. Newpark Resources has a 1 year low of $6.25 and a 1 year high of $10.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.96 and a current ratio of 2.71.

Newpark Resources (NYSE:NR) last issued its quarterly 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 for the quarter, compared to analyst estimates of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The firm’s quarterly revenue was up 92.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. sell-side analysts anticipate that Newpark Resources will post 0.06 EPS for the current fiscal year.

In related news, Director David C. Anderson sold 17,000 shares of Newpark Resources stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $8.91, for a total value of $151,470.00. Following the transaction, the director now directly owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G Stephen Finley sold 11,300 shares of Newpark Resources stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $8.79, for a total value of $99,327.00. Following the completion of the transaction, the director now directly owns 192,658 shares in the company, valued at $1,693,463.82. The disclosure for this sale can be found here. Insiders sold 30,300 shares of company stock worth $268,457 over the last ninety days. 4.90% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in NR. GSA Capital Partners LLP purchased a new position in shares of Newpark Resources during the 3rd quarter valued at $113,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Newpark Resources during the 3rd quarter valued at $114,000. BlueCrest Capital Management Ltd bought a new stake in shares of Newpark Resources during the 2nd quarter valued at $100,000. LMR Partners LLP bought a new stake in shares of Newpark Resources during the 3rd quarter valued at $154,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Newpark Resources during the 3rd quarter valued at $170,000.

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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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