Analysts Set Newpark Resources, Inc. (NYSE:NR) Price Target at $11.00

Shares of Newpark Resources, Inc. (NYSE:NR) have been given a consensus rating of “Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.00.

Several brokerages recently issued reports on NR. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a report on Wednesday, August 7th. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Saturday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NR. CWM LLC lifted its position in shares of Newpark Resources by 495.4% during the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 3,775 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Newpark Resources during the 1st quarter valued at $50,000. Fortitude Family Office LLC lifted its position in shares of Newpark Resources by 179.1% during 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. National Bank of Canada FI acquired a new position in shares of Newpark Resources during the 4th quarter valued at $59,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Newpark Resources during the 4th quarter valued at $67,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Price Performance

NR stock opened at $7.11 on Wednesday. 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 firm has a market cap of $605.36 million, a P/E ratio of 39.47 and a beta of 2.87. The company’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $7.62.

Newpark Resources (NYSE:NR) last announced its quarterly 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 company had revenue of $179.01 million for the quarter, compared to analyst estimates of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same period in the previous year, the firm posted $0.08 EPS. On average, analysts anticipate that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

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.