Newpark Resources (NYSE:NR) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Newpark Resources (NYSE:NR) from a hold rating to a buy rating in a research report released on Sunday morning.

Separately, HC Wainwright restated a buy rating and set a $12.00 target price on shares of Newpark Resources in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Newpark Resources currently has an average rating of Buy and an average target price of $11.00.

Newpark Resources Stock Up 0.7 %

Shares of NYSE NR opened at $7.12 on Friday. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The firm has a fifty day moving average of $7.80 and a 200-day moving average of $7.64. The stock has a market capitalization of $606.64 million, a PE ratio of 39.56 and a beta of 2.87. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data 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. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The company had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same period in the previous year, the company earned $0.08 EPS. On average, analysts anticipate that Newpark Resources will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Newpark Resources

A number of institutional investors have recently added to or reduced their stakes in NR. Ancora Advisors LLC lifted its holdings in Newpark Resources by 182.5% in the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after buying an additional 418,570 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Newpark Resources in the 4th quarter worth $2,567,000. Russell Investments Group Ltd. lifted its holdings in Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after buying an additional 349,935 shares in the last quarter. 1492 Capital Management LLC acquired a new position in Newpark Resources in the 4th quarter worth $2,193,000. Finally, American Century Companies Inc. lifted its holdings in Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after buying an additional 313,451 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

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.