Newpark Resources’ (NR) Buy Rating Reiterated at HC Wainwright

Newpark Resources (NYSE:NR)‘s stock had its “buy” rating restated by 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 points to a potential upside of 69.01% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday. B. Riley initiated coverage on shares of Newpark Resources in a report on Tuesday, April 9th. They set a “buy” rating and a $10.00 price target on the stock. 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 price target on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.75.

Newpark Resources Stock Up 1.1 %

Shares of NYSE NR opened at $7.10 on Monday. The stock has a market capitalization of $604.92 million, a P/E ratio of 39.45 and a beta of 2.78. The company has a 50-day moving average price of $7.15 and a 200-day moving average price of $6.86. Newpark Resources has a 1 year low of $3.40 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74.

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). The business had revenue of $167.82 million for the quarter, compared to analyst estimates of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. On average, equities research analysts forecast that Newpark Resources will post 0.3 EPS for the current fiscal year.

Institutional Trading of Newpark Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Dorsey Wright & Associates bought a new stake in shares of Newpark Resources in the third quarter valued at approximately $32,000. CWM LLC raised its position in shares of 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 during the period. GAMMA Investing LLC bought a new stake in shares of Newpark Resources in the fourth quarter valued at approximately $49,000. New York State Teachers Retirement System bought a new stake in shares of Newpark Resources in the first quarter valued at approximately $50,000. Finally, Fortitude Family Office LLC raised its position in shares of Newpark Resources by 179.1% in the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 4,751 shares during the period. 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.