Roth Capital Boosts Earnings Estimates for Newpark Resources

Newpark Resources, Inc. (NYSE:NR) – Analysts at Roth Capital boosted their FY2024 EPS estimates for shares of Newpark Resources in a research report issued on Tuesday, November 12th. Roth Capital analyst G. Sweeney now expects that the oil and gas company will post earnings of $0.39 per share for the year, up from their prior forecast of $0.30. The consensus estimate for Newpark Resources’ current full-year earnings is $0.31 per share. Roth Capital also issued estimates for Newpark Resources’ FY2025 earnings at $0.37 EPS.

NR has been the subject of several other research reports. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Down 1.8 %

Shares of NYSE:NR opened at $6.99 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The stock has a market cap of $604.64 million, a P/E ratio of -3.82 and a beta of 2.87. Newpark Resources has a 1-year low of $5.61 and a 1-year high of $8.65. The firm has a fifty day moving average price of $7.08 and a 200 day moving average price of $7.59.

Hedge Funds Weigh In On Newpark Resources

A number of large investors have recently modified their holdings of the business. Catalina Capital Group LLC grew its holdings in Newpark Resources by 10.6% during the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,360 shares during the period. Captrust Financial Advisors boosted its position in shares of Newpark Resources by 10.8% during the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,430 shares in the last quarter. Ironwood Investment Management LLC grew its stake in shares of Newpark Resources by 1.0% during the 2nd quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock worth $1,209,000 after purchasing an additional 1,442 shares during the period. NorthCrest Asset Manangement LLC grew its stake in shares of Newpark Resources by 3.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 43,203 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 1,517 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings 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 valued at $155,000 after purchasing an additional 1,604 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.