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

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

Separately, HC Wainwright reissued a buy rating and issued a $12.00 price target on shares of Newpark Resources in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Newpark Resources presently has an average rating of Moderate Buy and an average price target of $11.00.

Newpark Resources Stock Down 0.7 %

NYSE:NR opened at $6.81 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The stock’s fifty day simple moving average is $7.71 and its 200-day simple moving average is $7.67. The firm has a market capitalization of $588.86 million, a P/E ratio of 37.84 and a beta of 2.87.

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, topping analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter last year, the business earned $0.08 earnings per share. Equities research analysts expect that Newpark Resources will post 0.36 earnings per share for the current year.

Institutional Trading of Newpark Resources

A number of hedge funds and other institutional investors have recently modified their holdings of NR. CWM LLC grew its stake in Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,775 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Newpark Resources in the first quarter valued at $50,000. Fortitude Family Office LLC increased its holdings 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 last quarter. Victory Capital Management Inc. acquired a new position in Newpark Resources during the fourth quarter worth $67,000. Finally, Perigon Wealth Management LLC bought a new stake in Newpark Resources during the first quarter worth $73,000. 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.