Newpark Resources (NYSE:NR) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Newpark Resources (NYSE:NR) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other equities analysts have also issued reports on the company. Roth Capital reissued a buy rating on shares of Newpark Resources in a report on Friday, March 8th. Roth Mkm assumed coverage on Newpark Resources in a research note on Friday, March 8th. They set a buy rating and a $10.00 price target for the company. TheStreet lowered Newpark Resources from a b- rating to a c+ rating in a research note on Thursday, January 4th. Finally, B. Riley began coverage on Newpark Resources in a research note on Tuesday, April 9th. They set a buy rating and a $10.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $11.00.

Newpark Resources Stock Up 0.8 %

Shares of Newpark Resources stock opened at $7.16 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $7.17 and its 200-day simple moving average is $6.86. The stock has a market capitalization of $610.03 million, a price-to-earnings ratio of 39.78 and a beta of 2.78. Newpark Resources has a twelve month low of $3.40 and a twelve month high of $7.84.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The business had revenue of $167.82 million during the quarter, compared to the consensus estimate of $170.87 million. Equities research analysts forecast that Newpark Resources will post 0.3 earnings per share for the current year.

Institutional Trading of Newpark Resources

A number of hedge funds have recently modified their holdings of the business. Riverwater Partners LLC raised its holdings in shares of Newpark Resources by 4.4% during the first quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after acquiring an additional 3,140 shares in the last quarter. Kure Advisory LLC increased its holdings in Newpark Resources by 20.0% in the fourth quarter. Kure Advisory LLC now owns 20,204 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,363 shares during the last quarter. CWM LLC raised its position in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 3,775 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Newpark Resources by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock valued at $2,197,000 after purchasing an additional 4,105 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new stake in shares of Newpark Resources in the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.