Newpark Resources (NYSE:NR) Cut to Hold at StockNews.com

Newpark Resources (NYSE:NR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Newpark Resources has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Trading Down 4.3 %

Newpark Resources stock opened at $7.20 on Friday. The company has a market capitalization of $613.45 million, a price-to-earnings ratio of 40.00 and a beta of 2.87. The company’s fifty day moving average price is $7.90 and its two-hundred day moving average price is $7.59. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same period last year, the business posted $0.08 earnings per share. On average, analysts forecast that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 3,775 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Newpark Resources in the 1st quarter worth approximately $50,000. Fortitude Family Office LLC boosted its holdings in shares of Newpark Resources by 179.1% in the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 4,751 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Newpark Resources in the 4th quarter worth approximately $59,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Newpark Resources in the 4th quarter worth approximately $67,000. Institutional investors own 80.81% of the company’s stock.

About Newpark Resources

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.