Newpark Resources (NYSE:NR) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of Newpark Resources (NYSE:NR) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the oil and gas company’s stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

The stock has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $7.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65. The stock has a market capitalization of $627.10 million, a PE ratio of 27.89 and a beta of 2.92.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Newpark Resources by 155.6% in the 3rd quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 97,548 shares during the period. Geode Capital Management LLC lifted its position in shares of Newpark Resources by 8.6% during the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock worth $13,454,000 after acquiring an additional 154,210 shares in the last quarter. M&T Bank Corp lifted its position in shares of Newpark Resources by 29.6% during the third quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock worth $2,150,000 after acquiring an additional 70,863 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Newpark Resources by 247.2% in the third quarter. XTX Topco Ltd now owns 81,943 shares of the oil and gas company’s stock worth $568,000 after acquiring an additional 58,341 shares during the period. Finally, Zacks Investment Management grew its position in shares of Newpark Resources by 51.2% in the third quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock valued at $199,000 after purchasing an additional 9,725 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.

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.