Newpark Resources, Inc. (NYSE:NR) Receives Average Rating of “Buy” from Brokerages

Shares of Newpark Resources, Inc. (NYSE:NR) have been assigned a consensus recommendation of “Buy” from the four ratings firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have issued reports on NR. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Thursday, September 19th.

Newpark Resources Trading Up 0.1 %

NR opened at $6.73 on Thursday. The stock has a market cap of $581.92 million, a PE ratio of 26.92 and a beta of 2.86. 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 business has a 50 day moving average of $7.31 and a 200-day moving average of $7.61. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $179.01 million during 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 posted $0.08 EPS. Equities research analysts predict that Newpark Resources will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Newpark Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. increased its holdings in shares of Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after purchasing an additional 313,451 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Newpark Resources by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 653,000 shares of the oil and gas company’s stock worth $5,426,000 after purchasing an additional 15,859 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Newpark Resources by 12.3% in the 2nd quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company’s stock worth $5,401,000 after purchasing an additional 71,073 shares in the last quarter. Ancora Advisors LLC increased its holdings in shares of Newpark Resources by 182.5% in the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after purchasing an additional 418,570 shares in the last quarter. Finally, Roubaix Capital LLC increased its holdings in shares of Newpark Resources by 43.7% in the 1st quarter. Roubaix Capital LLC now owns 622,965 shares of the oil and gas company’s stock worth $4,498,000 after purchasing an additional 189,333 shares in the last quarter. 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.