Dahlman Rose Downgrades Newpark Resources (NR) to Hold

February 11, 2013 8:29 AM EST
Get Alerts NR Hot Sheet
Price: $7.80 --0%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 12 | New: 43
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Dahlman Rose downgraded Newpark Resources (NYSE: NR) from Buy to Hold along with 8 other oil service names on valuation citing recent strength.

"We continue to have a positive view on the performance of the oil service group," the analyst said. "At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group."

For an analyst ratings summary and ratings history on Newpark Resources click here. For more ratings news on Newpark Resources click here.

Shares of Newpark Resources closed at $8.75 yesterday.

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