Capital One Financial Upgrades Newpark Resources Inc to Overweight with Price Target $6.00

Brokerage firm Capital One Financial Upgrades its rating on Newpark Resources Inc(NYSE:NR). In a research note issued to the investors, the brokerage major Raises the price-target to $6.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Capital One Financial was issued on Jun 15, 2016.

In a different note, On Jun 1, 2016, Credit Suisse said it Upgrades its rating on Newpark Resources Inc. The shares have been rated ‘Outperform’ by the firm. On May 2, 2016, Tudor Pickering said it Upgrades its rating on Newpark Resources Inc. The shares have been rated ‘Buy’ by the firm.

Newpark Resources Inc (NR) made into the market gainers list on Tuesdays trading session with the shares advancing 2.71% or 0.15 points. Due to strong positive momentum, the stock ended at $5.69, which is also near the day’s high of $5.7. The stock began the session at $5.51 and the volume stood at 4,49,439 shares. The 52-week high of the shares is $8.62 and the 52 week low is $3.35. The company has a current market capitalization of $479 M and it has 8,41,11,567 shares in outstanding.

Newpark Resources Inc(NR) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $114.54M. Analysts had an estimated revenue of $134.09M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.13.

Newpark Resources Inc. is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems and Mats and Integrated Services. Fluids Systems segment provides drilling fluids solutions including technical drilling projects involving subsurface conditions such as horizontal directional geologically deep or deep water drilling to E&P customers 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 oil and gas customers at well production transportation and refinery locations in the United States. The Company manufactures DURA-BASE Advanced Composite Mats for use in its rental operations as well as for third-party sales.

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