Newpark Resources (NYSE:NR) Downgraded by TheStreet to “C+”

Newpark Resources (NYSE:NR) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued to investors on Friday, April 26th, TheStreetRatingsTable reports.

NR has been the subject of a number of other reports. ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. SunTrust Banks set a $13.00 price target on Newpark Resources and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Zacks Investment Research raised Newpark Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.00.

NR traded down $0.16 during midday trading on Friday, reaching $7.44. The company had a trading volume of 233,700 shares, compared to its average volume of 578,701. The company has a quick ratio of 2.81, a current ratio of 4.45 and a debt-to-equity ratio of 0.32. The stock has a market cap of $688.75 million, a price-to-earnings ratio of 18.15 and a beta of 1.57. Newpark Resources has a 1 year low of $6.39 and a 1 year high of $11.65.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $211.50 million during the quarter, compared to analysts’ expectations of $224.17 million. Newpark Resources had a return on equity of 6.29% and a net margin of 2.83%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. On average, equities analysts anticipate that Newpark Resources will post 0.32 earnings per share for the current fiscal year.

In other Newpark Resources news, insider Paul L. Howes sold 106,487 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the transaction, the insider now directly owns 621,820 shares in the company, valued at approximately $5,907,290. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul L. Howes sold 200,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.21, for a total value of $1,842,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Newpark Resources by 1.9% during the 4th quarter. BlackRock Inc. now owns 13,844,202 shares of the oil and gas company’s stock valued at $95,110,000 after buying an additional 263,764 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Newpark Resources by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 8,628,858 shares of the oil and gas company’s stock valued at $89,309,000 after purchasing an additional 322,856 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Newpark Resources by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 8,628,858 shares of the oil and gas company’s stock valued at $89,309,000 after purchasing an additional 322,856 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Newpark Resources by 11.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,292,409 shares of the oil and gas company’s stock valued at $43,229,000 after purchasing an additional 634,766 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Newpark Resources by 1.4% in the 3rd quarter. Clearbridge Investments LLC now owns 3,905,177 shares of the oil and gas company’s stock valued at $40,419,000 after purchasing an additional 52,587 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Company Profile

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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