Newpark Resources (NYSE:NR) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Newpark Resources (NYSE:NR) from a hold rating to a sell rating in a research note issued to investors on Thursday, Zacks.com reports.

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. “

A number of other analysts have also weighed in on the company. TheStreet lowered Newpark Resources from a b- rating to a c rating in a research report on Thursday, October 31st. ValuEngine raised Newpark Resources from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Raymond James set a $9.00 price objective on Newpark Resources and gave the stock a buy rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $10.17.

NYSE NR traded down $0.21 on Thursday, reaching $5.98. The stock had a trading volume of 546,996 shares, compared to its average volume of 532,955. The firm has a market capitalization of $567.89 million, a price-to-earnings ratio of 14.59 and a beta of 1.54. The company has a quick ratio of 2.44, a current ratio of 3.89 and a debt-to-equity ratio of 0.32. Newpark Resources has a 12-month low of $5.25 and a 12-month high of $9.68. The stock has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $7.07.

Newpark Resources (NYSE:NR) last announced its earnings results on Wednesday, October 30th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.09). The firm had revenue of $202.76 million during the quarter, compared to analysts’ expectations of $221.38 million. Newpark Resources had a net margin of 1.68% and a return on equity of 3.50%. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. Sell-side analysts forecast that Newpark Resources will post 0.14 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of NR. Miles Capital Inc. increased its holdings in Newpark Resources by 9.7% in the second quarter. Miles Capital Inc. now owns 16,557 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 1,459 shares during the last quarter. SG Americas Securities LLC increased its holdings in Newpark Resources by 0.9% in the third quarter. SG Americas Securities LLC now owns 169,617 shares of the oil and gas company’s stock valued at $1,292,000 after buying an additional 1,557 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Newpark Resources by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 49,313 shares of the oil and gas company’s stock valued at $366,000 after buying an additional 1,725 shares during the last quarter. Swiss National Bank increased its holdings in Newpark Resources by 1.5% in the second quarter. Swiss National Bank now owns 168,000 shares of the oil and gas company’s stock valued at $1,247,000 after buying an additional 2,500 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in Newpark Resources by 4.1% in the second quarter. ETRADE Capital Management LLC now owns 68,277 shares of the oil and gas company’s stock valued at $507,000 after buying an additional 2,713 shares during the last quarter. 99.96% 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 industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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