Newpark Resources (NYSE:NR) Stock Rating Reaffirmed by HC Wainwright

Newpark Resources (NYSE:NR)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $12.00 price objective on the oil and gas company’s stock. HC Wainwright’s price objective indicates a potential upside of 62.82% from the stock’s current price. HC Wainwright also issued estimates for Newpark Resources’ FY2025 earnings at $0.45 EPS.

NR has been the subject of several other research reports. Roth Mkm assumed coverage on shares of Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 target price for the company. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. Finally, B. Riley initiated coverage on Newpark Resources in a report on Tuesday, April 9th. They set a “buy” rating and a $10.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Newpark Resources presently has an average rating of “Buy” and an average price target of $11.00.

Newpark Resources Price Performance

Shares of NYSE NR opened at $7.37 on Monday. The company has a fifty day moving average price of $7.19 and a 200 day moving average price of $6.86. The firm has a market cap of $627.92 million, a PE ratio of 40.95 and a beta of 2.78. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. Newpark Resources has a 1-year low of $3.40 and a 1-year high of $7.84.

Newpark Resources (NYSE:NR) last posted 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). The firm had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. Research analysts predict that Newpark Resources will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newpark Resources

A number of institutional investors have recently bought and sold shares of NR. GSA Capital Partners LLP acquired a new stake in Newpark Resources during the 4th quarter valued at $2,567,000. 1492 Capital Management LLC acquired a new stake in shares of Newpark Resources during the 4th quarter worth about $2,193,000. Dimensional Fund Advisors LP boosted 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 buying an additional 303,236 shares during the period. Yarra Square Partners LP grew its stake in Newpark Resources by 48.5% in the 4th quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock valued at $5,406,000 after buying an additional 266,000 shares during the last quarter. Finally, SG Capital Management LLC bought a new position in Newpark Resources in the 3rd quarter valued at about $1,747,000. Institutional investors and hedge funds 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.