Newpark Resources (NR) Given a $10.00 Price Target by Cowen Analysts
Newpark Resources (NYSE:NR) has been given a $10.00 price objective by analysts at Cowen in a research note issued on Thursday. The firm currently has a “hold” rating on the oil and gas company’s stock. Cowen’s target price would indicate a potential upside of 1.52% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. SunTrust Banks upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.50.
Newpark Resources (NYSE:NR) traded up $0.25 during trading hours on Thursday, hitting $9.85. Newpark Resources has a 1 year low of $6.40 and a 1 year high of $10.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.96 and a current ratio of 2.71. The stock has a market capitalization of $845.49, a price-to-earnings ratio of 246.25 and a beta of 1.58.
In related news, Director David C. Anderson sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the completion of the transaction, the director now owns 170,841 shares in the company, valued at approximately $1,522,193.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Stephen Finley sold 11,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $8.79, for a total transaction of $99,327.00. Following the transaction, the director now owns 192,658 shares of the company’s stock, valued at approximately $1,693,463.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,423 shares of company stock valued at $360,346. Company insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd bought a new position in shares of Newpark Resources during the 2nd quarter worth approximately $100,000. GSA Capital Partners LLP bought a new position in shares of Newpark Resources during the 3rd quarter worth approximately $113,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Newpark Resources during the 3rd quarter worth approximately $114,000. Cubist Systematic Strategies LLC raised its stake in shares of Newpark Resources by 24.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 3,730 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Newpark Resources during the 2nd quarter worth approximately $141,000.
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Newpark Resources Company Profile
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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