Capital One Financial Comments on Newpark Resources Inc’s Q4 2018 Earnings (NR)
Newpark Resources Inc (NYSE:NR) – Equities research analysts at Capital One Financial dropped their Q4 2018 earnings estimates for Newpark Resources in a research report issued on Friday. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will post earnings per share of $0.14 for the quarter, down from their previous estimate of $0.15. Capital One Financial also issued estimates for Newpark Resources’ FY2019 earnings at $0.67 EPS.
A number of other research analysts also recently commented on NR. ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Cowen set a $10.00 price objective on shares of Newpark Resources and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, SunTrust Banks raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Newpark Resources currently has a consensus rating of “Hold” and a consensus target price of $10.50.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.59%. The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $202.55 million. The company’s revenue was up 49.1% compared to the same quarter last year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd acquired a new stake in Newpark Resources during the 2nd quarter worth approximately $100,000. GSA Capital Partners LLP bought a new stake in shares of Newpark Resources during the third quarter worth $113,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Newpark Resources during the third quarter worth $114,000. Cubist Systematic Strategies LLC raised its position in shares of Newpark Resources by 24.8% during the second 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 during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Newpark Resources during the second quarter worth $141,000.
In other news, Director G Stephen Finley sold 7,300 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $9.08, for a total transaction of $66,284.00. Following the completion of the transaction, the director now owns 180,358 shares of the company’s stock, valued at approximately $1,637,650.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 23,423 shares of company stock valued at $208,876. Corporate insiders own 4.90% of the company’s stock.
About Newpark Resources
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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