Newpark Resources, Inc. (NYSE:NR) Given Average Recommendation of “Buy” by Brokerages

Shares of Newpark Resources, Inc. (NYSE:NR) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.00.

A number of brokerages have commented on NR. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th.

Institutional Investors Weigh In On Newpark Resources

Large investors have recently made changes to their positions in the stock. Catalina Capital Group LLC increased its position in Newpark Resources by 10.6% during the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares during the last quarter. Ironwood Investment Management LLC grew its stake in shares of Newpark Resources by 1.0% in the 2nd quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock valued at $1,209,000 after buying an additional 1,442 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Newpark Resources by 8.1% during the 1st quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after buying an additional 1,604 shares during the last quarter. Marathon Capital Management increased its holdings in shares of Newpark Resources by 1.1% during the 2nd quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company’s stock worth $2,212,000 after buying an additional 3,025 shares during the last quarter. Finally, Riverwater Partners LLC raised its position in shares of Newpark Resources by 4.4% during the 1st quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock valued at $543,000 after buying an additional 3,140 shares during the period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

Newpark Resources Price Performance

Newpark Resources stock opened at $6.92 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. The company’s fifty day moving average price is $7.68 and its 200 day moving average price is $7.67. The stock has a market capitalization of $589.60 million, a P/E ratio of 38.44 and a beta of 2.87. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts anticipate that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

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.