Newpark Resources, Inc. (NYSE:NR - Free Report) - Research analysts at HC Wainwright increased their Q2 2024 earnings per share estimates for shares of Newpark Resources in a research note issued on Monday, May 6th. HC Wainwright analyst A. Dayal now expects that the oil and gas company will post earnings per share of $0.09 for the quarter, up from their prior estimate of $0.05. HC Wainwright currently has a "Buy" rating and a $12.00 price target on the stock. The consensus estimate for Newpark Resources' current full-year earnings is $0.30 per share. HC Wainwright also issued estimates for Newpark Resources' Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.11 EPS and FY2024 earnings at $0.36 EPS.
A number of other research firms also recently weighed in on NR. StockNews.com raised Newpark Resources from a "hold" rating to a "buy" rating in a report on Friday, May 3rd. Roth Capital reaffirmed a "buy" rating on shares of Newpark Resources in a research note on Friday, March 8th. Roth Mkm assumed coverage on Newpark Resources in a research note on Friday, March 8th. They set a "buy" rating and a $10.00 price objective for the company. Finally, B. Riley boosted their target price on shares of Newpark Resources from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $11.00.
Read Our Latest Stock Analysis on NR
Newpark Resources Stock Performance
NR traded down $0.02 on Wednesday, hitting $7.35. 1,289,509 shares of the stock traded hands, compared to its average volume of 656,997. The business has a fifty day moving average price of $7.19 and a two-hundred day moving average price of $6.86. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $626.22 million, a PE ratio of 40.95 and a beta of 2.78. Newpark Resources has a 52 week low of $3.40 and a 52 week high of $7.84.
Newpark Resources (NYSE:NR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The company had revenue of $167.82 million during the quarter, compared to analyst estimates of $170.87 million.
Institutional Trading of Newpark Resources
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dorsey Wright & Associates acquired a new position in Newpark Resources during the third quarter valued at approximately $32,000. CWM LLC grew its holdings in shares of Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company's stock valued at $33,000 after buying an additional 3,775 shares during the period. GAMMA Investing LLC acquired a new position in shares of Newpark Resources in the 4th quarter valued at $49,000. New York State Teachers Retirement System bought a new stake in shares of Newpark Resources in the 1st quarter valued at $50,000. Finally, Fortitude Family Office LLC raised its stake in Newpark Resources by 179.1% during the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company's stock worth $53,000 after buying an additional 4,751 shares during the period. 80.81% of the stock is currently owned by institutional investors and hedge funds.
About Newpark Resources
(
Get Free Report)
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.
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