Price Action Report: What’s Ahead for Newpark Resources Inc After Today’s Big Increase?

Price Action Report: What's Ahead for Newpark Resources Inc After Today's Big Increase?

The stock of Newpark Resources Inc (NYSE:NR) is a huge mover today! The stock increased 3.90% or $0.3 on November 23, hitting $8. About 587,086 shares traded hands or 33.51% up from the average. Newpark Resources Inc (NYSE:NR) has risen 51.80% since April 22, 2016 and is uptrending. It has outperformed by 46.39% the S&P500.
The move comes after 9 months positive chart setup for the $681.65M company. It was reported on Nov, 24 by Barchart.com. We have $8.40 PT which if reached, will make NYSE:NR worth $34.08M more.

Analysts await Newpark Resources Inc (NYSE:NR) to report earnings on February, 9. They expect $-0.09 EPS, up 18.18% or $0.02 from last year’s $-0.11 per share. After $-0.13 actual EPS reported by Newpark Resources Inc for the previous quarter, Wall Street now forecasts -30.77% EPS growth.

Newpark Resources Inc (NYSE:NR) Ratings Coverage

Out of 4 analysts covering Newpark Resources (NYSE:NR), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Newpark Resources has been the topic of 7 analyst reports since September 4, 2015 according to StockzIntelligence Inc. The rating was upgraded by Tudor Pickering to “Buy” on Monday, May 2. Credit Suisse maintained it with “Neutral” rating and $8 target price in Friday, September 4 report. Cowen & Co maintained the stock with “Outperform” rating in Tuesday, February 16 report. The company was reinitiated on Monday, July 18 by Credit Suisse. Capital One upgraded Newpark Resources Inc (NYSE:NR) on Wednesday, June 15 to “Overweight” rating. As per Wednesday, June 1, the company rating was upgraded by Credit Suisse.

According to Zacks Investment Research, “NEWPARK RESOURCES, INC. provides integrated environmental services to the oil and gas exploration and production industry in the Gulf Coast area, principally in Louisiana and Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.05, from 1.2 in 2016Q1. The ratio is negative, as 20 funds sold all Newpark Resources Inc shares owned while 41 reduced positions. 21 funds bought stakes while 52 increased positions. They now own 83.94 million shares or 0.50% more from 83.52 million shares in 2016Q1.
Hsbc Hldgs Public Limited Co accumulated 18,142 shares or 0% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 5,980 shares in its portfolio. Vanguard last reported 0% of its portfolio in the stock. Advisory Networks Limited Liability accumulated 1,200 shares or 0% of the stock. Rockefeller Fincl Services owns 829,053 shares or 0.1% of their US portfolio. Ny State Common Retirement Fund holds 76,700 shares or 0% of its portfolio. Ladenburg Thalmann last reported 490 shares in the company. Proshare Advsr Limited Co accumulated 12,029 shares or 0% of the stock. State Of Tennessee Treasury Department last reported 66,876 shares in the company. Panagora Asset Management has invested 0.01% of its portfolio in Newpark Resources Inc (NYSE:NR). Geode Capital Mngmt Llc last reported 588,059 shares in the company. Tower Capital Lc (Trc) reported 9,058 shares or 0% of all its holdings. Moreover, California Public Employees Retirement Systems has 0% invested in Newpark Resources Inc (NYSE:NR) for 486,000 shares. The Texas-based Capstone Asset Mngmt Company has invested 0.01% in Newpark Resources Inc (NYSE:NR). Diam Ltd last reported 0% of its portfolio in the stock.

More recent Newpark Resources Inc (NYSE:NR) news were published by: Quotes.Wsj.com which released: “News Newpark Resources Inc.NR” on February 11, 2011. Also Prnewswire.com published the news titled: “Newpark Resources Reports Third Quarter 2016 Results” on October 27, 2016. Prnewswire.com‘s news article titled: “Newpark Resources Reports Second Quarter 2016 Results” with publication date: July 28, 2016 was also an interesting one.

NR Company Profile

Newpark Resources, Inc., incorporated on June 3, 1988, is an gas and oil supplier. The Firm provides services and products to the gas and oil exploration (E&P) industry. The Firm operates its business through two divisions: Fluids Systems, and Mats and Integrated Services. Fluids Systems segment provides customized drilling fluids solutions to E&P clients in North America; Europe, the Middle East and Africa (EMEA); Latin America, and Asia Pacific. The Mats and Integrated Services segment provides composite mat rentals, well site construction and related site services to gas and oil clients at well, production, transportation and refinery locations in the United States.

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