Newpark Resources (NYSE:NR) Shares Gap Up to $7.02

Shares of Newpark Resources, Inc. (NYSE:NR) gapped up before the market opened on Friday . The stock had previously closed at $7.02, but opened at $7.46. Newpark Resources shares last traded at $7.30, with a volume of 165,119 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NR shares. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. B. Riley started coverage on shares of Newpark Resources in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.00 price objective on the stock. TheStreet lowered shares of Newpark Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Finally, Roth Mkm began coverage on shares of Newpark Resources in a research report on Friday, March 8th. They issued a “buy” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Newpark Resources presently has an average rating of “Moderate Buy” and an average target price of $10.75.

Newpark Resources Trading Up 1.0 %

The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $604.07 million, a price-to-earnings ratio of 44.31 and a beta of 2.78. The company has a fifty day simple moving average of $7.15 and a 200-day simple moving average of $6.86.

Newpark Resources (NYSE:NR) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Newpark Resources had a net margin of 1.94% and a return on equity of 6.53%. The firm had revenue of $167.82 million for the quarter, compared to analyst estimates of $170.87 million. On average, research analysts forecast that Newpark Resources, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Newpark Resources by 26.7% during the third quarter. SG Americas Securities LLC now owns 131,988 shares of the oil and gas company’s stock worth $912,000 after buying an additional 27,810 shares during the last quarter. Bank of New York Mellon Corp grew its position in Newpark Resources by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock worth $2,197,000 after purchasing an additional 4,105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Newpark Resources during the 3rd quarter worth about $180,000. Roubaix Capital LLC raised its position in shares of Newpark Resources by 11.8% during the third quarter. Roubaix Capital LLC now owns 575,783 shares of the oil and gas company’s stock valued at $3,979,000 after buying an additional 60,966 shares during the last quarter. Finally, Skylands Capital LLC bought a new stake in shares of Newpark Resources in the third quarter valued at about $905,000. Institutional investors own 80.81% of the company’s stock.

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.