Roth Capital Has Positive Forecast for NR FY2024 Earnings

Newpark Resources, Inc. (NYSE:NR) – Roth Capital boosted their FY2024 earnings per share (EPS) estimates for Newpark Resources in a report issued on Tuesday, November 12th. Roth Capital analyst G. Sweeney now expects that the oil and gas company will post earnings per share of $0.39 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.

Several other equities research analysts have also recently issued reports on NR. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Monday. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Down 2.2 %

Shares of NR opened at $7.12 on Thursday. The stock has a fifty day simple moving average of $7.08 and a two-hundred day simple moving average of $7.59. 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 market capitalization of $615.67 million, a PE ratio of -3.90 and a beta of 2.87. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of NR. Janney Montgomery Scott LLC purchased a new position in shares of Newpark Resources in the first quarter valued at approximately $859,000. Oppenheimer Asset Management Inc. purchased a new position in Newpark Resources in the 1st quarter valued at approximately $86,000. Russell Investments Group Ltd. grew its stake in shares of Newpark Resources by 210.2% in the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after acquiring an additional 349,935 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Newpark Resources by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 1,604 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Newpark Resources by 161.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 199,066 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.