StockNews.com Initiates Coverage on Newpark Resources (NYSE:NR)

Research analysts at StockNews.com assumed coverage on shares of Newpark Resources (NYSE:NR) in a note issued to investors on Monday. The brokerage 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 research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

The firm has a market cap of $627.10 million, a PE ratio of 27.89 and a beta of 2.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The firm’s 50 day moving average is $7.41 and its 200-day moving average is $7.63. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65.

Institutional Trading of Newpark Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new position in Newpark Resources during the 3rd quarter worth approximately $96,000. Captrust Financial Advisors boosted its holdings in shares of Newpark Resources by 10.8% in the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 1,430 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Newpark Resources in the 3rd quarter valued at approximately $116,000. CWM LLC boosted its holdings in shares of Newpark Resources by 79.3% in the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 7,713 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Newpark Resources by 68.1% in the 3rd quarter. GSA Capital Partners LLP now owns 17,618 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 7,140 shares during the last quarter. 80.81% of the stock is owned by 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.