Newpark Resources (NYSE:NR) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Newpark Resources (NYSE:NR) from a buy rating to a hold rating in a research note published on Monday.

Separately, HC Wainwright restated a buy rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Thursday, September 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $11.00.

Newpark Resources Price Performance

Shares of NYSE:NR opened at $7.44 on Monday. The firm has a market capitalization of $633.90 million, a PE ratio of 41.33 and a beta of 2.87. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $7.78 and a two-hundred day moving average price of $7.67. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65.

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

Institutional Investors Weigh In On Newpark Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in shares of Newpark Resources in the fourth quarter worth approximately $67,000. Swiss National Bank purchased a new stake in shares of Newpark Resources during the 4th quarter valued at $1,079,000. Private Advisor Group LLC purchased a new stake in shares of Newpark Resources during the 4th quarter valued at $134,000. Dimensional Fund Advisors LP lifted its holdings in shares of Newpark Resources by 5.2% during the 4th 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. Finally, Trexquant Investment LP grew its position in Newpark Resources by 983.6% in the fourth quarter. Trexquant Investment LP now owns 136,452 shares of the oil and gas company’s stock worth $906,000 after acquiring an additional 123,860 shares in 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.