HC Wainwright Reaffirms “Buy” Rating for Newpark Resources (NYSE:NR)

HC Wainwright restated their buy rating on shares of Newpark Resources (NYSE:NR) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $12.00 price objective on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ Q4 2024 earnings at $0.10 EPS.

NR has been the topic of a number of other research reports. B. Riley increased their target price on Newpark Resources from $10.00 to $11.00 and gave the company a buy rating in a research note on Monday, May 6th. StockNews.com upgraded Newpark Resources from a hold rating to a buy rating in a research report on Friday, May 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $11.00.

Newpark Resources Stock Performance

Shares of NR opened at $7.45 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $7.97 and a 200-day moving average price of $7.37. The company has a market cap of $634.75 million, a PE ratio of 41.39 and a beta of 2.89. Newpark Resources has a 12-month low of $5.08 and a 12-month high of $8.65.

Newpark Resources (NYSE:NR) last announced its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The business had revenue of $179.01 million during the quarter, compared to analyst estimates of $171.04 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, equities analysts forecast that Newpark Resources will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Newpark Resources

A number of large investors have recently added to or reduced their stakes in NR. Catalina Capital Group LLC lifted its position in Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,360 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Newpark Resources by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after buying an additional 1,604 shares during the period. Riverwater Partners LLC raised its holdings in Newpark Resources by 4.4% during the 1st quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock valued at $543,000 after buying an additional 3,140 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Newpark Resources by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,521 shares of the oil and gas company’s stock valued at $250,000 after buying an additional 3,232 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Newpark Resources by 9.6% in the 2nd quarter. Principal Financial Group Inc. now owns 37,348 shares of the oil and gas company’s stock worth $310,000 after acquiring an additional 3,270 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.