Brokerages Set Newpark Resources, Inc. (NYSE:NR) Target Price at $11.00

Newpark Resources, Inc. (NYSE:NR) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research firms have weighed in on NR. Roth Mkm began coverage on shares of Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday, May 6th. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, B. Riley upped their price objective on Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 6th.

Newpark Resources Stock Performance

NYSE:NR opened at $7.90 on Friday. The firm’s fifty day simple moving average is $7.69 and its 200-day simple moving average is $7.06. The company has a quick ratio of 1.74, a current ratio of 2.79 and a debt-to-equity ratio of 0.14. The stock has a market cap of $673.08 million, a PE ratio of 43.89 and a beta of 2.86. Newpark Resources has a fifty-two week low of $4.61 and a fifty-two week high of $8.65.

Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. The company had revenue of $169.11 million for the quarter, compared to analyst estimates of $170.69 million. Analysts expect that Newpark Resources will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newpark Resources

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Newpark Resources by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after buying an additional 303,236 shares during the period. Vanguard Group Inc. raised its holdings in shares of Newpark Resources by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after purchasing an additional 162,941 shares during the period. Wellington Management Group LLP lifted its stake in shares of Newpark Resources by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock valued at $6,048,000 after purchasing an additional 148,700 shares in the last quarter. Yarra Square Partners LP increased its position in Newpark Resources by 48.5% during the 4th quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock worth $5,406,000 after purchasing an additional 266,000 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after purchasing an additional 418,570 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Company Profile

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.