Newpark Resources, Inc. (NYSE:NR) Short Interest Update

Newpark Resources, Inc. (NYSE:NR) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 1,260,000 shares, a drop of 13.7% from the August 31st total of 1,460,000 shares. Based on an average daily volume of 662,800 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NR shares. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a research note on Thursday, September 19th. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Newpark Resources has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Price Performance

Shares of Newpark Resources stock opened at $6.92 on Friday. The firm has a market cap of $589.60 million, a PE ratio of 38.44 and a beta of 2.87. The business has a 50-day moving average price of $7.68 and a 200 day moving average price of $7.67. 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 has a twelve month low of $5.61 and a twelve month high of $8.65.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company 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 period in the prior year, the business posted $0.08 earnings per share. Sell-side analysts predict that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Newpark Resources

Several large investors have recently made changes to their positions in NR. Dimensional Fund Advisors LP boosted its position in Newpark Resources by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after acquiring an additional 303,236 shares during the last quarter. American Century Companies Inc. lifted its stake 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 purchasing an additional 313,451 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Newpark Resources by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 653,000 shares of the oil and gas company’s stock worth $5,426,000 after purchasing an additional 15,859 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Newpark Resources by 12.3% in the second quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company’s stock valued at $5,401,000 after purchasing an additional 71,073 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Newpark Resources by 182.5% in the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock valued at $4,678,000 after purchasing an additional 418,570 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

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.