Newpark Resources, Inc. (NYSE:NR) Receives $11.00 Consensus PT from Brokerages

Shares of Newpark Resources, Inc. (NYSE:NR) have received a consensus rating of “Buy” from the four analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $11.00.

Several research firms have recently issued reports on NR. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a report on Thursday, September 19th.

Newpark Resources Trading Up 0.4 %

Shares of NR stock opened at $6.81 on Thursday. 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 stock has a fifty day simple moving average of $7.36 and a two-hundred day simple moving average of $7.62. The firm has a market capitalization of $588.86 million, a PE ratio of 27.24 and a beta of 2.86. Newpark Resources has a 52-week low of $5.61 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The firm had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter last year, the business posted $0.08 earnings per share. On average, analysts predict that Newpark Resources will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Newpark Resources during the 1st quarter worth $859,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Newpark Resources by 67.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock valued at $2,368,000 after buying an additional 131,609 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Newpark Resources in the 2nd quarter worth approximately $538,000. Panagora Asset Management Inc. raised its stake in shares of Newpark Resources by 44.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock worth $3,672,000 after acquiring an additional 135,427 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Newpark Resources by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after acquiring an additional 4,255 shares during the last quarter. Hedge funds and other 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.