Roth Capital Predicts Higher Earnings for Newpark Resources

Newpark Resources, Inc. (NYSE:NR - Free Report) - Research analysts at Roth Capital lifted their FY2024 EPS estimates for shares of Newpark Resources in a research note 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 estimate of $0.30. The consensus estimate for Newpark Resources' current full-year earnings is $0.36 per share. Roth Capital also issued estimates for Newpark Resources' FY2025 earnings at $0.37 EPS.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a "buy" rating and issued a $12.00 price target on shares of Newpark Resources in a research note on Monday. StockNews.com cut shares of Newpark Resources from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Newpark Resources has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Newpark Resources Price Performance

NR stock traded down $0.23 during mid-day trading on Thursday, hitting $7.05. The company had a trading volume of 258,210 shares, compared to its average volume of 662,655. The company has a market capitalization of $609.61 million, a price-to-earnings ratio of -3.90 and a beta of 2.87. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $7.08 and a 200 day moving average price of $7.59.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted its stake in Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company's stock worth $101,000 after acquiring an additional 1,430 shares during the period. Pennant Select LLC boosted its stake in shares of Newpark Resources by 65.0% during the third quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company's stock valued at $6,861,000 after purchasing an additional 390,000 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Newpark Resources by 529.6% during the third quarter. BNP Paribas Financial Markets now owns 43,138 shares of the oil and gas company's stock valued at $299,000 after buying an additional 36,286 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Newpark Resources during the third quarter worth $471,000. Finally, Fisher Asset Management LLC raised its position in shares of Newpark Resources by 6.6% in the 3rd quarter. Fisher Asset Management LLC now owns 239,286 shares of the oil and gas company's stock worth $1,658,000 after acquiring an additional 14,802 shares in the last quarter. 80.81% of the stock is currently 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.