Roth Capital Has Optimistic Outlook of NR FY2024 Earnings

Newpark Resources, Inc. (NYSE:NR) – Research analysts at Roth Capital raised their FY2024 earnings estimates for shares of Newpark Resources in a note issued to investors on Tuesday, November 12th. Roth Capital analyst G. Sweeney now anticipates that the oil and gas company will earn $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.

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

Newpark Resources Stock Down 2.0 %

Shares of NR stock opened at $7.28 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The stock has a market cap of $629.50 million, a PE ratio of -3.98 and a beta of 2.87. The business’s fifty day moving average is $7.10 and its 200-day moving average is $7.59. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65.

Institutional Trading of Newpark Resources

Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new stake in Newpark Resources during the 1st quarter valued at $859,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Newpark Resources by 67.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock valued at $2,368,000 after purchasing an additional 131,609 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Newpark Resources during the 2nd quarter worth approximately $538,000. Panagora Asset Management Inc. lifted its holdings in Newpark Resources by 44.2% in the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after buying an additional 135,427 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Newpark Resources by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after acquiring an additional 4,255 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

About Newpark Resources

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.