Newpark Resources (NYSE:NR) Shares Gap Down – Here’s What Happened

Newpark Resources, Inc. (NYSE:NR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.55, but opened at $7.09. Newpark Resources shares last traded at $7.20, with a volume of 100,916 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NR shares. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Trading Down 3.0 %

The firm has a market cap of $632.93 million, a P/E ratio of 28.80 and a beta of 2.87. The company’s 50 day simple moving average is $7.14 and its 200-day simple moving average is $7.59. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The company had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, research analysts predict that Newpark Resources, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in shares of Newpark Resources during the 1st quarter worth $859,000. Oppenheimer Asset Management Inc. purchased a new position in Newpark Resources during the 1st quarter valued at about $86,000. Russell Investments Group Ltd. raised its holdings in shares of Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after purchasing an additional 349,935 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of Newpark Resources by 8.1% in the 1st quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 1,604 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Newpark Resources by 161.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 199,066 shares in the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Company Profile

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.