B. Riley Raises Newpark Resources (NYSE:NR) Price Target to $11.00

Newpark Resources (NYSE:NR) had its price target boosted by B. Riley from $10.00 to $11.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock. B. Riley also issued estimates for Newpark Resources’ Q2 2024 earnings at $0.08 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

A number of other analysts have also recently weighed in on the company. StockNews.com raised Newpark Resources from a hold rating to a buy rating in a research report on Friday, May 3rd. Roth Mkm started coverage on shares of Newpark Resources in a research report on Friday, March 8th. They issued a buy rating and a $10.00 price objective for the company. HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday. Finally, Roth Capital reissued a buy rating on shares of Newpark Resources in a research report on Friday, March 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Newpark Resources has a consensus rating of Buy and a consensus price target of $11.00.

Newpark Resources Trading Down 0.3 %

Shares of NYSE NR opened at $7.35 on Monday. Newpark Resources has a twelve month low of $3.40 and a twelve month high of $7.84. The company has a quick ratio of 1.74, a current ratio of 2.79 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $7.21 and a two-hundred day simple moving average of $6.87. The firm has a market cap of $625.79 million, a PE ratio of 40.81 and a beta of 2.78.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dorsey Wright & Associates purchased a new position in Newpark Resources in the third quarter worth approximately $32,000. CWM LLC increased its position in shares of Newpark Resources by 495.4% during the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Newpark Resources in the 4th quarter valued at about $49,000. New York State Teachers Retirement System acquired a new position in Newpark Resources in the first quarter valued at about $50,000. Finally, Fortitude Family Office LLC boosted its stake in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after buying an additional 4,751 shares during the period. 80.81% of the stock is owned by hedge funds and other 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.