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

Newpark Resources (NYSE:NR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities research analysts also recently weighed in on NR. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a report on Wednesday, August 7th. B. Riley boosted their target price on shares of Newpark Resources from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Up 1.5 %

NR stock traded up $0.12 during mid-day trading on Thursday, hitting $8.34. 306,678 shares of the company were exchanged, compared to its average volume of 660,869. The company has a market capitalization of $710.58 million, a PE ratio of 46.33 and a beta of 2.89. The firm has a fifty day simple moving average of $7.92 and a 200 day simple moving average of $7.53. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65.

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

Institutional Trading of Newpark Resources

Several hedge funds have recently made changes to their positions in NR. CWM LLC grew its position in Newpark Resources by 495.4% in 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 bought a new position in Newpark Resources in the 4th quarter worth approximately $49,000. New York State Teachers Retirement System bought a new position in Newpark Resources in the 1st quarter worth approximately $50,000. Fortitude Family Office LLC increased its position in Newpark Resources by 179.1% in the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 4,751 shares during the period. Finally, National Bank of Canada FI bought a new stake in Newpark Resources in the fourth quarter worth about $59,000. 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.